Astronics Co. (NASDAQ:ATRO) Short Interest Down 16.8% in November

Astronics Co. (NASDAQ:ATRO) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 357,300 shares, a drop of 16.8% from the October 31st total of 429,700 shares. Based on an average daily volume of 212,800 shares, the days-to-cover ratio is presently 1.7 days.

Institutional Investors Weigh In On Astronics

Several institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. lifted its stake in Astronics by 4.5% in the first quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock worth $260,000 after acquiring an additional 589 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of Astronics by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 971 shares in the last quarter. RiverPark Advisors LLC boosted its stake in Astronics by 3.5% in the 3rd quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock worth $592,000 after purchasing an additional 1,015 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Astronics by 10.8% during the second quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock valued at $224,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Astronics in the 2nd quarter worth about $25,000. Hedge funds and other institutional investors own 56.68% of the company’s stock.

Astronics Price Performance

NASDAQ:ATRO traded up $0.17 during trading hours on Monday, hitting $16.32. 250,149 shares of the company’s stock traded hands, compared to its average volume of 176,149. The business’s fifty day simple moving average is $18.48 and its two-hundred day simple moving average is $19.62. Astronics has a 52 week low of $14.13 and a 52 week high of $23.74. The firm has a market cap of $575.44 million, a P/E ratio of -85.00 and a beta of 1.83. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

Analyst Ratings Changes

Separately, Truist Financial decreased their price target on Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, October 18th.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.