Astrotech (NASDAQ:ASTC) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Astrotech (NASDAQ:ASTC) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Astrotech in a report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Astrotech Stock Performance

Astrotech stock opened at $7.17 on Friday. Astrotech has a 1 year low of $1.91 and a 1 year high of $68.85. The firm’s 50-day moving average is $8.47 and its 200-day moving average is $7.98. The company has a market cap of $15.13 million, a P/E ratio of -0.85 and a beta of 4.87.

Institutional Trading of Astrotech

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Astrotech in the second quarter worth $220,000. SCS Capital Management LLC bought a new stake in shares of Astrotech during the second quarter valued at about $120,000. J. Safra Sarasin Holding AG acquired a new stake in Astrotech in the first quarter worth about $140,000. DRW Securities LLC grew its position in Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after buying an additional 19,747 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Astrotech during the 3rd quarter valued at about $66,000. 24.35% of the stock is currently owned by institutional investors and hedge funds.

Astrotech Company Profile

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.