Astronics (NASDAQ:ATRO) Shares Up 6% – Should You Buy?

Astronics Co. (NASDAQ:ATRO) was up 6% on Friday . The stock traded as high as $16.59 and last traded at $16.54. Approximately 61,660 shares were traded during trading, a decline of 60% from the average daily volume of 153,283 shares. The stock had previously closed at $15.60.

Wall Street Analyst Weigh In

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.

Astronics Trading Up 2.8 %

The company has a market cap of $565.60 million, a PE ratio of -84.42 and a beta of 1.79. The stock’s 50 day moving average is $16.51 and its 200-day moving average is $18.84. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in Astronics by 6.7% during the third quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock worth $18,001,000 after acquiring an additional 58,356 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Astronics during the 3rd quarter valued at approximately $964,000. JPMorgan Chase & Co. raised its holdings in Astronics by 108.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,954 shares of the aerospace company’s stock valued at $1,811,000 after buying an additional 48,328 shares during the period. Algert Global LLC lifted its position in Astronics by 367.2% in the third quarter. Algert Global LLC now owns 56,072 shares of the aerospace company’s stock worth $1,092,000 after buying an additional 44,070 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Astronics during the second quarter worth $857,000. 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.