Astronics Co. (NASDAQ:ATRO) Short Interest Up 26.3% in March

Astronics Co. (NASDAQ:ATRO) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,500,000 shares, a growth of 26.3% from the February 28th total of 1,980,000 shares. Based on an average daily volume of 434,800 shares, the short-interest ratio is presently 5.7 days. Currently, 8.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities analysts have commented on ATRO shares. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Truist Financial upped their price objective on Astronics from $17.00 to $23.00 and gave the company a “hold” rating in a report on Wednesday, March 5th.

Astronics Price Performance

Shares of ATRO opened at $24.73 on Wednesday. The company has a market cap of $872.20 million, a P/E ratio of -130.15 and a beta of 1.74. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $26.63. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The firm’s 50 day moving average price is $21.17 and its 200 day moving average price is $18.89.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.27. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. The business had revenue of $208.54 million for the quarter, compared to analyst estimates of $194.91 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. On average, research analysts forecast that Astronics will post 0.82 earnings per share for the current fiscal year.

Insider Activity

In other Astronics news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total value of $1,892,780.45. Following the completion of the sale, the director now directly owns 6,346 shares of the company’s stock, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.86% of the company’s stock.

Institutional Trading of Astronics

A number of large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its holdings in Astronics by 167.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 2,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Astronics by 75.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock worth $937,000 after purchasing an additional 25,146 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Astronics in the fourth quarter valued at approximately $1,022,000. Two Sigma Advisers LP increased its stake in Astronics by 85.8% in the fourth quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock valued at $1,586,000 after purchasing an additional 45,900 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Astronics by 159.1% during the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock worth $2,827,000 after purchasing an additional 108,769 shares in the last quarter. 56.68% of the stock is currently owned by hedge funds and other institutional investors.

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.