Astrotech Corporation (NASDAQ:ASTC) Sees Large Decrease in Short Interest

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 50,402 shares, a drop of 43.9% from the July 15th total of 89,847 shares. Based on an average daily trading volume, of 66,071 shares, the short-interest ratio is currently 0.8 days. Currently, 3.4% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Astrotech during the 2nd quarter worth approximately $220,000. DRW Securities LLC increased its holdings in shares of Astrotech by 168.5% in the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 19,747 shares during the last quarter. Susquehanna International Group LLP acquired a new stake in shares of Astrotech in the third quarter valued at approximately $66,000. SCS Capital Management LLC purchased a new position in Astrotech during the second quarter worth approximately $120,000. Finally, J. Safra Sarasin Holding AG purchased a new position in Astrotech during the first quarter worth approximately $140,000. 24.35% of the stock is owned by hedge funds and other institutional investors.

Astrotech Stock Down 2.8%

Shares of ASTC opened at $7.93 on Wednesday. Astrotech has a 52-week low of $1.91 and a 52-week high of $68.85. The firm’s fifty day moving average is $10.27 and its two-hundred day moving average is $7.72. The stock has a market cap of $14.27 million, a PE ratio of -0.94 and a beta of 4.87.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ASTC. Wall Street Zen raised shares of Astrotech from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings raised shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Astrotech Company Profile

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.