Short Interest in Astronics Co. (NASDAQ:ATRO) Rises By 27.1%

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 daily trading volume, of 296,200 shares, the days-to-cover ratio is presently 6.0 days.

Astronics Trading Down 1.4 %

Shares of ATRO stock opened at $15.80 on Tuesday. Astronics has a fifty-two week low of $14.13 and a fifty-two week high of $23.74. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock’s fifty day moving average is $16.93 and its two-hundred day moving average is $19.04. The firm has a market capitalization of $557.14 million, a P/E ratio of -83.15 and a beta of 1.79.

Hedge Funds Weigh In On Astronics

A number of institutional investors and hedge funds have recently bought and sold shares of ATRO. Point72 Asset Management L.P. acquired a new stake in Astronics in the 2nd quarter valued at about $25,000. nVerses Capital LLC acquired a new stake in shares of Astronics in the second quarter valued at approximately $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astronics during the third quarter worth approximately $106,000. DekaBank Deutsche Girozentrale boosted its stake in Astronics by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after buying an additional 971 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in Astronics in the 3rd quarter valued at $202,000. 56.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.