Astronics (NASDAQ:ATRO) Sets New 12-Month Low – What’s Next?

Astronics Co. (NASDAQ:ATRO) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $14.13 and last traded at $14.78, with a volume of 1087690 shares traded. The stock had previously closed at $17.61.

Wall Street Analysts Forecast Growth

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

Astronics Price Performance

The firm has a 50-day moving average of $18.82 and a 200 day moving average of $19.72. The company has a market capitalization of $527.52 million, a PE ratio of -77.79 and a beta of 1.83. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ATRO. Russell Investments Group Ltd. grew its holdings in shares of Astronics by 9.6% in the first quarter. Russell Investments Group Ltd. now owns 23,900 shares of the aerospace company’s stock worth $455,000 after acquiring an additional 2,100 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of Astronics during the 1st quarter valued at about $270,000. Vanguard Group Inc. lifted its stake in shares of Astronics by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,448,121 shares of the aerospace company’s stock worth $27,572,000 after purchasing an additional 23,444 shares during the period. American International Group Inc. boosted its holdings in shares of 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 buying an additional 589 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Astronics by 103.1% during the first quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock valued at $901,000 after buying an additional 24,027 shares during the period. 56.68% of the stock is owned by hedge funds and other institutional investors.

About Astronics

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.