Short Interest in Astrotech Corporation (NASDAQ:ASTC) Decreases By 86.9%

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 131,925 shares, a decrease of 86.9% from the May 31st total of 1,007,150 shares. Based on an average daily trading volume, of 2,914,010 shares, the short-interest ratio is presently 0.0 days. Approximately 8.8% of the company’s stock are short sold.

Astrotech Price Performance

Shares of NASDAQ ASTC traded down $0.69 during midday trading on Friday, hitting $9.31. 88,681 shares of the company’s stock were exchanged, compared to its average volume of 3,206,484. Astrotech has a twelve month low of $1.91 and a twelve month high of $68.85. The company has a market cap of $16.76 million, a PE ratio of -1.11 and a beta of 4.60. The firm’s fifty day simple moving average is $12.31 and its 200-day simple moving average is $6.43.

Astrotech (NASDAQ:ASTC) last announced its quarterly earnings results on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share (EPS) for the quarter. The business had revenue of $0.34 million during the quarter. Astrotech had a negative net margin of 1,397.82% and a negative return on equity of 81.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ASTC shares. Wall Street Zen downgraded shares of Astrotech to a “strong sell” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASTC. DRW Securities LLC raised its stake in Astrotech by 168.5% during the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock worth $109,000 after acquiring an additional 19,747 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Astrotech in the third quarter valued at $66,000. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Astrotech during the first quarter worth about $140,000. 24.35% of the stock is owned by hedge funds and other institutional investors.

About Astrotech

Astrotech Corp. (NASDAQ: ASTC) is a technology commercialization company headquartered near Austin, Texas. The firm sources early-stage innovations from government and university research programs—most notably from NASA—and advances them toward commercial readiness. Astrotech’s core mission is to bridge the gap between federally funded R&D and industrial applications across the life sciences and renewable energy sectors.

In its life sciences division, Astrotech has focused on mass spectrometry-based analytical instruments and diagnostic platforms.