Astrotech Corporation (NASDAQ:ASTC) Short Interest Update

Astrotech Corporation (NASDAQ:ASTC) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 41,339 shares, a decrease of 45.6% from the April 30th total of 75,943 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average daily volume of 33,882 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Trading of Astrotech

Several institutional investors have recently made changes to their positions in ASTC. Susquehanna International Group LLP bought a new position in Astrotech during the third quarter valued at approximately $66,000. DRW Securities LLC raised its position in Astrotech by 168.5% during the fourth 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 in the last quarter. Finally, J. Safra Sarasin Holding AG bought a new position in Astrotech during the first quarter valued at approximately $140,000. 24.35% of the stock is currently owned by institutional investors and hedge funds.

Astrotech Stock Performance

Shares of ASTC stock traded up $12.64 during trading on Tuesday, hitting $48.04. 6,070,756 shares of the company were exchanged, compared to its average volume of 11,273,659. The firm has a market capitalization of $84.55 million, a price-to-earnings ratio of -4.21 and a beta of 4.47. The business’s 50-day simple moving average is $5.41 and its 200 day simple moving average is $4.00. Astrotech has a twelve month low of $1.91 and a twelve month high of $68.85.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.