Astronics Co. (NASDAQ:ATRO) Sees Large Drop in Short Interest

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

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on shares of Astronics from $22.00 to $20.00 and set a “hold” rating for the company in a research note on Friday, October 18th.

Astronics Price Performance

NASDAQ:ATRO opened at $16.15 on Friday. The firm’s fifty day moving average is $18.48 and its two-hundred day moving average is $19.63. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics has a one year low of $14.13 and a one year high of $23.74.

Institutional Trading of Astronics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Astronics by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,448,121 shares of the aerospace company’s stock valued at $27,572,000 after acquiring an additional 23,444 shares during the period. American International Group Inc. lifted its stake in shares of Astronics by 4.5% in the 1st quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock valued at $260,000 after purchasing an additional 589 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Astronics during the first quarter worth $31,000. Hennion & Walsh Asset Management Inc. grew its position in Astronics by 41.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,717 shares of the aerospace company’s stock valued at $355,000 after buying an additional 5,148 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Astronics by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 116,175 shares of the aerospace company’s stock valued at $2,327,000 after buying an additional 15,253 shares in the last quarter. Hedge funds and other institutional investors own 56.68% of the company’s stock.

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.