Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 373,900 shares, an increase of 5.1% from the September 15th total of 355,700 shares. Based on an average daily volume of 155,200 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Separately, Truist Financial lifted their price objective on shares of Astronics from $20.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, August 2nd.

Astronics Trading Up 1.0 %

Astronics stock traded up $0.21 during midday trading on Wednesday, reaching $20.49. The stock had a trading volume of 64,706 shares, compared to its average volume of 143,950. Astronics has a 52-week low of $14.11 and a 52-week high of $23.74. The company has a fifty day moving average of $19.88 and a 200 day moving average of $19.57. The firm has a market cap of $713.91 million, a price-to-earnings ratio of -26.55 and a beta of 1.82. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67.

Astronics (NASDAQ:ATRO - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The aerospace company reported $0.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The business had revenue of $198.11 million for the quarter, compared to analysts' expectations of $191.19 million. During the same quarter in the previous year, the firm earned ($0.37) EPS. On average, analysts anticipate that Astronics will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in shares of Astronics during the second quarter worth approximately $25,000. nVerses Capital LLC bought a new position in Astronics in the second quarter worth approximately $28,000. Public Employees Retirement System of Ohio purchased a new position in Astronics during the 1st quarter worth $31,000. Allspring Global Investments Holdings LLC raised its position in Astronics by 4,973.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company's stock valued at $219,000 after purchasing an additional 10,742 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Astronics by 10.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company's stock worth $224,000 after buying an additional 1,094 shares during the period. Hedge funds and other institutional investors own 56.68% of the company's stock.

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.