Astronics (NASDAQ:ATRO) Trading Up 6% – Here’s What Happened

Astronics Co. (NASDAQ:ATRO) shot up 6% on Friday . The stock traded as high as $16.59 and last traded at $16.54. 61,660 shares changed hands during trading, a decline of 60% from the average session volume of 153,283 shares. The stock had previously closed at $15.60.

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 for the company in a report on Friday, October 18th.

Astronics Trading Up 2.8 %

The stock’s 50-day simple moving average is $16.51 and its two-hundred day simple moving average is $18.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The firm has a market capitalization of $565.60 million, a P/E ratio of -84.42 and a beta of 1.79.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. State Street Corp raised its stake in Astronics by 6.7% during the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after purchasing an additional 58,356 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Astronics during the third quarter valued at approximately $964,000. JPMorgan Chase & Co. lifted its holdings in shares of Astronics by 108.3% in the third quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock worth $1,811,000 after buying an additional 48,328 shares in the last quarter. Algert Global LLC boosted its position in shares of Astronics by 367.2% during the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after acquiring an additional 44,070 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Astronics during the second quarter valued at $857,000. 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.