Astrotech Corporation (NASDAQ:ASTC) Short Interest Update

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 89,847 shares, a drop of 43.1% from the June 30th total of 157,846 shares. Approximately 6.0% of the company’s shares are short sold. Based on an average daily volume of 149,729 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Astrotech

Institutional investors and hedge funds have recently modified their holdings of the business. J. Safra Sarasin Holding AG acquired a new stake in shares of Astrotech during the 1st quarter worth approximately $140,000. DRW Securities LLC lifted its position in shares of Astrotech by 168.5% during the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 19,747 shares during the period. Finally, Susquehanna International Group LLP bought a new position in Astrotech during the third quarter worth $66,000. 24.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ASTC has been the topic of several research reports. Weiss Ratings upgraded Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. Wall Street Zen downgraded shares of Astrotech from a “sell” rating to a “strong sell” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Astrotech has an average rating of “Sell”.

Astrotech Price Performance

Shares of Astrotech stock traded up $0.29 during midday trading on Thursday, reaching $6.50. The company had a trading volume of 18,045 shares, compared to its average volume of 2,720,244. The stock has a fifty day moving average price of $14.97 and a 200 day moving average price of $7.26. Astrotech has a fifty-two week low of $1.91 and a fifty-two week high of $68.85. The firm has a market cap of $11.70 million, a PE ratio of -0.77 and a beta of 4.77.

Astrotech (NASDAQ:ASTC) last released its earnings results on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share (EPS) for the quarter. Astrotech had a negative net margin of 1,397.82% and a negative return on equity of 81.85%. The firm had revenue of $0.34 million during the quarter.

About Astrotech

Astrotech Corp. (NASDAQ: ASTC) is a technology commercialization company headquartered near Austin, Texas. The firm sources early-stage innovations from government and university research programs—most notably from NASA—and advances them toward commercial readiness. Astrotech’s core mission is to bridge the gap between federally funded R&D and industrial applications across the life sciences and renewable energy sectors.

In its life sciences division, Astrotech has focused on mass spectrometry-based analytical instruments and diagnostic platforms.