Astrotech (NASDAQ:ASTC) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Astrotech (NASDAQ:ASTCGet 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.

Astrotech (NASDAQ:ASTCGet Rating) last posted its quarterly earnings results on Wednesday, September 14th. The aerospace company reported ($0.04) earnings per share for the quarter. Astrotech had a negative net margin of 1,226.53% and a negative return on equity of 16.29%. The company had revenue of $0.02 million during the quarter.

Insider Activity

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

(Get Rating)

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.

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