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

Astronics Co. (NASDAQ:ATRO) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totalling 1,780,000 shares, a growth of 27.1% from the November 30th total of 1,400,000 shares. Based on an average trading volume of 296,200 shares, the short-interest ratio is currently 6.0 days.

Astronics Price Performance

Shares of NASDAQ ATRO traded down $0.11 during mid-day trading on Friday, reaching $16.03. 303,226 shares of the company traded hands, compared to its average volume of 188,823. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $23.74. The firm has a market cap of $565.25 million, a PE ratio of -84.36 and a beta of 1.79. The stock has a fifty day simple moving average of $16.99 and a 200-day simple moving average of $19.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Astronics

Several hedge funds have recently modified their holdings of ATRO. Point72 Asset Management L.P. acquired a new position in Astronics during the second quarter worth about $25,000. nVerses Capital LLC acquired a new stake in shares of Astronics in the second quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics during the 3rd quarter valued at about $106,000. DekaBank Deutsche Girozentrale grew its position in 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 purchasing an additional 971 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Astronics in the third quarter worth $202,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

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.