Astrotech Corporation (NASDAQ:ASTC) Short Interest Down 43.9% in July

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 50,402 shares, a decline of 43.9% from the July 15th total of 89,847 shares. Based on an average daily volume of 66,071 shares, the short-interest ratio is currently 0.8 days. Currently, 3.4% of the shares of the company are sold short.

Astrotech Stock Performance

Astrotech stock traded down $0.14 during trading hours on Tuesday, hitting $8.02. 34,891 shares of the stock were exchanged, compared to its average volume of 2,532,869. Astrotech has a 12 month low of $1.91 and a 12 month high of $68.85. The business’s 50-day moving average is $10.62 and its two-hundred day moving average is $7.69. The stock has a market capitalization of $14.44 million, a P/E ratio of -0.95 and a beta of 4.87.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. SCS Capital Management LLC bought a new stake in Astrotech during the 2nd quarter worth about $120,000. Susquehanna International Group LLP acquired a new position in shares of Astrotech during the third quarter worth approximately $66,000. DRW Securities LLC lifted its position in shares of Astrotech by 168.5% during the fourth 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 in the last quarter. BlackRock Inc. bought a new stake in shares of Astrotech during the second quarter valued at approximately $220,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of Astrotech in the first quarter valued at approximately $140,000. 24.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ASTC has been the subject of a number of recent research reports. Weiss Ratings upgraded Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 27th. Wall Street Zen raised Astrotech from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Astrotech has an average rating of “Sell”.

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.