StockNews.com initiated coverage on shares of Astrotech (NASDAQ:ASTC – Get Rating) in a research report report published on Monday morning. The brokerage issued a sell rating on the aerospace company’s stock.
Astrotech Price Performance
ASTC opened at $0.34 on Monday. The firm has a 50 day simple moving average of $0.41 and a 200 day simple moving average of $0.45. Astrotech has a fifty-two week low of $0.32 and a fifty-two week high of $0.83. The company has a market cap of $17.21 million, a price-to-earnings ratio of -1.89 and a beta of -0.64.
Shares of Astrotech are going to reverse split on Monday, December 5th. The 1-30 reverse split was announced on Monday, December 5th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 5th.
In other news, major shareholder Braden Michael Leonard bought 100,000 shares of the stock in a transaction on Monday, September 26th. The stock was purchased at an average price of $0.44 per share, with a total value of $44,000.00. Following the completion of the purchase, the insider now owns 5,581,382 shares of the company’s stock, valued at $2,455,808.08. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 416,434 shares of company stock valued at $169,745 in the last ninety days. 9.70% of the stock is owned by insiders.
Institutional Investors Weigh In On Astrotech
A number of hedge funds have recently modified their holdings of ASTC. Marquette Asset Management LLC grew its position in shares of Astrotech by 14.1% in the 3rd quarter. Marquette Asset Management LLC now owns 419,854 shares of the aerospace company’s stock valued at $186,000 after purchasing an additional 51,990 shares during the period. Renaissance Technologies LLC raised its holdings in Astrotech by 173.4% during the 3rd quarter. Renaissance Technologies LLC now owns 158,589 shares of the aerospace company’s stock worth $70,000 after buying an additional 100,589 shares during the period. Finally, Virtu Financial LLC bought a new position in Astrotech in the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 6.69% of the company’s stock.
Astrotech Company Profile
Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.
- Get a free copy of the StockNews.com research report on Astrotech (ASTC)
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