Astrotech Corporation (NASDAQ:ASTC) Short Interest Down 86.9% in June

Astrotech Corporation (NASDAQ:ASTC) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 131,925 shares, a decline of 86.9% from the May 31st total of 1,007,150 shares. Based on an average daily volume of 2,914,010 shares, the days-to-cover ratio is currently 0.0 days. Currently, 8.8% of the shares of the stock are sold short.

Astrotech Trading Down 2.3%

ASTC opened at $9.77 on Friday. The stock has a 50-day moving average price of $12.18 and a 200-day moving average price of $6.41. The stock has a market capitalization of $17.59 million, a P/E ratio of -1.16 and a beta of 4.60. Astrotech has a 12-month low of $1.91 and a 12-month high of $68.85.

Astrotech (NASDAQ:ASTC) last announced its quarterly earnings data on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share (EPS) for the quarter. Astrotech had a negative net margin of 1,397.82% and a negative return on equity of 81.85%. The business had revenue of $0.34 million during the quarter.

Analysts Set New Price Targets

Several brokerages have issued reports on ASTC. Weiss Ratings upgraded shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Wall Street Zen lowered shares of Astrotech to a “strong sell” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Trading of Astrotech

Several institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP purchased a new position in shares of Astrotech in the third quarter worth about $66,000. DRW Securities LLC boosted its holdings in Astrotech by 168.5% during the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 19,747 shares during the period. Finally, J. Safra Sarasin Holding AG purchased a new stake in Astrotech during the 1st quarter valued at about $140,000. 24.35% of the stock is currently owned by hedge funds and other institutional investors.

About Astrotech

Astrotech Corp. (NASDAQ: ASTC) is a technology commercialization company headquartered near Austin, Texas. The firm sources early-stage innovations from government and university research programs—most notably from NASA—and advances them toward commercial readiness. Astrotech’s core mission is to bridge the gap between federally funded R&D and industrial applications across the life sciences and renewable energy sectors.

In its life sciences division, Astrotech has focused on mass spectrometry-based analytical instruments and diagnostic platforms.