Astronics Co. (NASDAQ:ATRO) Short Interest Up 17.2% in February

Astronics Co. (NASDAQ:ATRO - Get Free Report) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,980,000 shares, a growth of 17.2% from the February 13th total of 1,690,000 shares. Based on an average daily volume of 384,700 shares, the days-to-cover ratio is currently 5.1 days. Approximately 6.3% of the company's shares are short sold.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ATRO shares. Truist Financial increased their price target on shares of Astronics from $17.00 to $23.00 and gave the company a "hold" rating in a research report on Wednesday, March 5th. StockNews.com upgraded shares of Astronics from a "hold" rating to a "buy" rating in a report on Thursday, March 6th.

Insider Activity

In related news, Director Robert S. Keane sold 77,099 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.55, for a total value of $1,892,780.45. Following the sale, the director now directly owns 6,346 shares in the company, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.86% of the company's stock.

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Institutional Trading of Astronics

Several institutional investors and hedge funds have recently modified their holdings of ATRO. Public Employees Retirement System of Ohio raised its position in Astronics by 167.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock valued at $66,000 after purchasing an additional 2,600 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Astronics by 75.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company's stock worth $937,000 after purchasing an additional 25,146 shares during the period. Squarepoint Ops LLC acquired a new stake in Astronics during the fourth quarter worth approximately $1,022,000. Two Sigma Advisers LP grew its stake in Astronics by 85.8% during the fourth quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company's stock worth $1,586,000 after purchasing an additional 45,900 shares during the period. Finally, Two Sigma Investments LP grew its stake in Astronics by 159.1% during the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company's stock worth $2,827,000 after purchasing an additional 108,769 shares during the period. 56.68% of the stock is currently owned by institutional investors.

Astronics Stock Up 1.4 %

Shares of NASDAQ:ATRO traded up $0.35 during midday trading on Friday, hitting $25.35. The stock had a trading volume of 508,942 shares, compared to its average volume of 249,707. Astronics has a 12 month low of $14.13 and a 12 month high of $25.54. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The business's 50-day simple moving average is $19.96 and its 200-day simple moving average is $18.58. The company has a market cap of $894.07 million, a P/E ratio of -133.41 and a beta of 1.74.

Astronics (NASDAQ:ATRO - Get Free Report) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.27. The firm had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. Astronics had a positive return on equity of 6.94% and a negative net margin of 0.82%. During the same period in the prior year, the company posted $0.35 EPS. On average, sell-side analysts forecast that Astronics will post 0.82 earnings per share for the current fiscal year.

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.