Astronics Co. (NASDAQ:ATRO) Sees Significant Growth in Short Interest

Astronics Co. (NASDAQ:ATRO) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 324,300 shares, an increase of 9.0% from the March 15th total of 297,600 shares. Based on an average trading volume of 131,600 shares, the days-to-cover ratio is currently 2.5 days.

Astronics Trading Up 0.1 %

Shares of ATRO traded up $0.01 during midday trading on Tuesday, reaching $16.78. The stock had a trading volume of 16,753 shares, compared to its average volume of 128,076. Astronics has a 52 week low of $14.06 and a 52 week high of $22.44. The company has a quick ratio of 1.38, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average price is $18.31 and its 200-day moving average price is $16.86.

Astronics (NASDAQ:ATRO) last posted its quarterly earnings data on Wednesday, February 28th. The aerospace company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Astronics had a negative return on equity of 6.53% and a negative net margin of 3.83%. The company had revenue of $195.29 million for the quarter, compared to the consensus estimate of $188.35 million. On average, equities analysts anticipate that Astronics will post 0.71 EPS for the current year.

Insider Transactions at Astronics

In other news, EVP Michael C. Kuehn sold 7,074 shares of Astronics stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total value of $125,351.28. Following the completion of the transaction, the executive vice president now owns 12,875 shares in the company, valued at approximately $228,145. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Michael C. Kuehn sold 7,074 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $17.72, for a total transaction of $125,351.28. Following the completion of the transaction, the executive vice president now owns 12,875 shares in the company, valued at approximately $228,145. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael C. Kuehn sold 2,209 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $20.16, for a total value of $44,533.44. Following the transaction, the executive vice president now owns 14,248 shares of the company’s stock, valued at approximately $287,239.68. The disclosure for this sale can be found here. Insiders own 10.83% of the company’s stock.

Institutional Trading of Astronics

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Astronics by 101.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,906 shares of the aerospace company’s stock worth $38,000 after buying an additional 960 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Astronics by 158.3% in the 1st quarter. Quantbot Technologies LP now owns 3,100 shares of the aerospace company’s stock worth $40,000 after acquiring an additional 1,900 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Astronics in the 4th quarter worth $64,000. Qube Research & Technologies Ltd acquired a new position in shares of Astronics in the 3rd quarter worth $69,000. Finally, Psagot Value Holdings Ltd. Israel grew its holdings in shares of Astronics by 856.5% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock worth $77,000 after acquiring an additional 3,897 shares during the last quarter. Institutional investors own 56.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ATRO shares. StockNews.com raised Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Truist Financial lifted their target price on Astronics from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, March 1st.

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.