Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO - Get Free Report) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 416,700 shares, a growth of 11.4% from the September 30th total of 373,900 shares. Based on an average daily trading volume, of 147,900 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their price objective on Astronics from $22.00 to $20.00 and set a "hold" rating on the stock in a research note on Friday, October 18th.

Institutional Investors Weigh In On Astronics

Several hedge funds have recently modified their holdings of ATRO. Bares Capital Management Inc. lifted its holdings in Astronics by 10.4% during the first quarter. Bares Capital Management Inc. now owns 899,351 shares of the aerospace company's stock worth $17,124,000 after buying an additional 84,659 shares during the period. Assenagon Asset Management S.A. bought a new stake in Astronics during the third quarter valued at about $964,000. Cubist Systematic Strategies LLC purchased a new position in Astronics in the second quarter valued at about $857,000. Dimensional Fund Advisors LP raised its holdings in Astronics by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company's stock worth $17,806,000 after purchasing an additional 40,438 shares in the last quarter. Finally, Senator Investment Group LP lifted its position in shares of Astronics by 7.3% during the first quarter. Senator Investment Group LP now owns 545,754 shares of the aerospace company's stock valued at $10,391,000 after buying an additional 36,980 shares during the last quarter. Hedge funds and other institutional investors own 56.68% of the company's stock.

Astronics Trading Up 0.2 %

ATRO stock traded up $0.03 during midday trading on Tuesday, reaching $18.41. The company's stock had a trading volume of 75,127 shares, compared to its average volume of 142,890. Astronics has a 1 year low of $14.11 and a 1 year high of $23.74. The firm has a market capitalization of $641.44 million, a price-to-earnings ratio of -23.91 and a beta of 1.82. The stock has a fifty day simple moving average of $19.90 and a two-hundred day simple moving average of $19.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 2.92.

Astronics (NASDAQ:ATRO - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $198.11 million during the quarter, compared to analysts' expectations of $191.19 million. Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. During the same quarter in the previous year, the firm posted ($0.37) EPS. On average, equities research analysts predict that Astronics will post 0.36 EPS for the current year.

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.