Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO - Get Free Report) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,780,000 shares, an increase 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 currently 6.0 days.

Hedge Funds Weigh In On Astronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATRO. Point72 Asset Management L.P. purchased a new stake in shares of Astronics during the second quarter worth approximately $25,000. nVerses Capital LLC purchased a new stake in shares of Astronics during the second quarter worth $28,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astronics during the third quarter worth $106,000. DekaBank Deutsche Girozentrale raised its position in shares of Astronics by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company's stock valued at $163,000 after buying an additional 971 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in shares of Astronics in the third quarter worth about $202,000. 56.68% of the stock is owned by hedge funds and other institutional investors.

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 research note on Friday, October 18th.

Astronics Price Performance

Shares of NASDAQ:ATRO traded down $0.11 during midday trading on Friday, reaching $16.03. 303,226 shares of the company's stock traded hands, compared to its average volume of 188,823. The company has a fifty day simple moving average of $16.99 and a two-hundred day simple moving average of $19.06. Astronics has a 1 year low of $14.13 and a 1 year high of $23.74. The company has a market cap of $565.25 million, a P/E ratio of -84.36 and a beta of 1.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

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.