Astronics Corporation (ATRO) Sees Large Increase in Short Interest
Astronics Corporation (NASDAQ:ATRO) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 784,416 shares, an increase of 54.2% from the August 31st total of 508,800 shares. Based on an average daily trading volume, of 194,161 shares, the short-interest ratio is currently 4.0 days. Approximately 3.7% of the shares of the stock are short sold.
Astronics Corporation (NASDAQ ATRO) opened at 29.75 on Monday. The company’s 50-day moving average price is $26.62 and its 200 day moving average price is $29.73. Astronics Corporation has a 52-week low of $23.95 and a 52-week high of $41.03. The stock has a market capitalization of $853.85 million, a PE ratio of 21.59 and a beta of 1.16.
Astronics Corporation (NASDAQ:ATRO) last posted its quarterly earnings results on Wednesday, August 2nd. The aerospace company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.14). The firm had revenue of $151.11 million during the quarter, compared to the consensus estimate of $162.33 million. Astronics Corporation had a return on equity of 12.12% and a net margin of 6.73%. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 earnings per share. Equities analysts forecast that Astronics Corporation will post $1.42 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in ATRO. Scout Investments Inc. bought a new position in Astronics Corporation in the 2nd quarter worth $1,276,000. Bank of New York Mellon Corp increased its stake in Astronics Corporation by 2.0% in the 1st quarter. Bank of New York Mellon Corp now owns 98,920 shares of the aerospace company’s stock worth $3,139,000 after buying an additional 1,915 shares in the last quarter. Teachers Advisors LLC increased its stake in Astronics Corporation by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 37,532 shares of the aerospace company’s stock worth $1,191,000 after buying an additional 732 shares in the last quarter. Geode Capital Management LLC increased its stake in Astronics Corporation by 10.9% in the 1st quarter. Geode Capital Management LLC now owns 345,325 shares of the aerospace company’s stock worth $10,956,000 after buying an additional 34,078 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Astronics Corporation during the first quarter valued at about $240,000. Institutional investors own 65.59% of the company’s stock.
Several brokerages recently commented on ATRO. Zacks Investment Research cut shares of Astronics Corporation from a “hold” rating to a “strong sell” rating in a research note on Friday, August 4th. TheStreet lowered shares of Astronics Corporation from a “b-” rating to a “c+” rating in a report on Wednesday, June 7th. Canaccord Genuity reiterated a “buy” rating and issued a $34.00 target price on shares of Astronics Corporation in a research note on Wednesday, August 16th. Finally, BidaskClub cut shares of Astronics Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $34.33.
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Astronics Corporation Company Profile
Astronics Corporation is a supplier of products to the aerospace, defense, electronics and semiconductor industries. The Company’s products and services include electrical power generation, distribution and motion systems, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems.
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