Astronics (NASDAQ:ATRO) Shares Gap Up - Still a Buy?

Astronics Co. (NASDAQ:ATRO - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $18.78, but opened at $19.65. Astronics shares last traded at $19.63, with a volume of 111,996 shares changing hands.

Analyst Upgrades and Downgrades

ATRO has been the subject of several research reports. StockNews.com raised Astronics from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th. Truist Financial reduced their target price on Astronics from $20.00 to $17.00 and set a "hold" rating for the company in a report on Tuesday, January 14th.

Astronics Stock Performance

The firm's 50-day moving average price is $17.19 and its two-hundred day moving average price is $18.18. 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 firm has a market capitalization of $703.79 million, a PE ratio of -105.05 and a beta of 1.79.

Institutional Trading of Astronics

Several large investors have recently added to or reduced their stakes in ATRO. AlphaQuest LLC grew its stake in Astronics by 355.5% during the 4th quarter. AlphaQuest LLC now owns 3,576 shares of the aerospace company's stock valued at $57,000 after acquiring an additional 2,791 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in shares of Astronics by 167.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company's stock worth $66,000 after purchasing an additional 2,600 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Astronics during the fourth quarter valued at approximately $73,000. Point72 Asset Management L.P. increased its stake in Astronics by 337.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company's stock valued at $104,000 after buying an additional 4,133 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Astronics in the 3rd quarter worth approximately $106,000. 56.68% of the stock is owned by institutional investors and hedge funds.

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.