Astronics Co. (NASDAQ:ATRO) Short Interest Up 13.1% in July

Astronics Co. (NASDAQ:ATRO) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 291,900 shares, a growth of 13.1% from the June 30th total of 258,200 shares. Based on an average trading volume of 157,900 shares, the days-to-cover ratio is currently 1.8 days.

Astronics Stock Performance

Shares of NASDAQ ATRO traded down $0.16 during mid-day trading on Monday, reaching $22.32. 117,090 shares of the company traded hands, compared to its average volume of 142,240. Astronics has a fifty-two week low of $14.11 and a fifty-two week high of $23.74. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.59 and a quick ratio of 1.27. The stock has a fifty day simple moving average of $20.39 and a 200-day simple moving average of $18.79.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Thursday, May 2nd. The aerospace company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). Astronics had a negative net margin of 3.51% and a negative return on equity of 5.93%. The company had revenue of $185.07 million for the quarter, compared to analyst estimates of $172.74 million. During the same quarter in the prior year, the business earned ($0.14) EPS. Analysts anticipate that Astronics will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Astronics in the first quarter worth approximately $31,000. Psagot Value Holdings Ltd. Israel grew its position in Astronics by 856.5% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after buying an additional 3,897 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Astronics by 4,973.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock worth $219,000 after buying an additional 10,742 shares during the last quarter. Clear Rock Advisors LLC acquired a new position in Astronics in the fourth quarter worth approximately $204,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Astronics in the first quarter worth approximately $239,000. Institutional investors and hedge funds own 56.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial raised their price objective on shares of Astronics from $19.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, July 17th.

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.