Astrotech (NASDAQ:ASTC) Issues Quarterly Earnings Results

Astrotech (NASDAQ:ASTC) posted its quarterly earnings results on Wednesday. The aerospace company reported ($2.25) EPS for the quarter, FiscalAI reports. Astrotech had a negative return on equity of 74.54% and a negative net margin of 1,397.82%.The business had revenue of $0.34 million during the quarter.

Astrotech Trading Down 3.0%

Shares of Astrotech stock opened at $2.61 on Friday. The firm has a market cap of $4.59 million, a PE ratio of -0.31 and a beta of -0.25. Astrotech has a 12 month low of $1.91 and a 12 month high of $8.01. The stock has a 50 day moving average of $3.04 and a 200 day moving average of $3.28.

Hedge Funds Weigh In On Astrotech

Several institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP purchased a new position in Astrotech in the third quarter worth about $66,000. DRW Securities LLC boosted its holdings in shares of Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 19,747 shares during the period. Finally, J. Safra Sarasin Holding AG bought a new stake in Astrotech in the first quarter worth $140,000. Institutional investors own 24.35% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Astrotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.