Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,780,000 shares, a growth 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.

Wall Street Analyst Weigh In

Separately, Truist Financial reduced their price target on Astronics from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, October 18th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Astronics by 15.1% in the second quarter. Bank of New York Mellon Corp now owns 116,175 shares of the aerospace company’s stock valued at $2,327,000 after purchasing an additional 15,253 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Astronics by 4,973.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock worth $219,000 after buying an additional 10,742 shares during the period. nVerses Capital LLC acquired a new position in shares of Astronics during the second quarter worth approximately $28,000. Rhumbline Advisers grew its stake in shares of Astronics by 5.8% in the second quarter. Rhumbline Advisers now owns 67,546 shares of the aerospace company’s stock worth $1,353,000 after acquiring an additional 3,706 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Astronics by 70.3% during the second quarter. American Century Companies Inc. now owns 26,204 shares of the aerospace company’s stock worth $525,000 after acquiring an additional 10,819 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Stock Performance

ATRO stock traded down $0.11 during midday trading on Friday, hitting $16.03. 303,226 shares of the company traded hands, compared to its average volume of 188,823. The business has a 50 day simple moving average of $16.99 and a 200-day simple moving average of $19.06. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics has a twelve month low of $14.13 and a twelve month high of $23.74. The stock has a market capitalization of $565.25 million, a price-to-earnings ratio of -84.36 and a beta of 1.79.

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.