Astrotech Co. (NASDAQ:ASTC) Sees Large Drop in Short Interest

Astrotech Co. (NASDAQ:ASTC) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 13,600 shares, a decrease of 5.6% from the May 31st total of 14,400 shares. Based on an average daily volume of 3,800 shares, the short-interest ratio is currently 3.6 days. Currently, 0.9% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Astrotech stock. Acuitas Investments LLC boosted its holdings in shares of Astrotech Co. (NASDAQ:ASTC) by 18.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,570 shares of the aerospace company’s stock after buying an additional 9,623 shares during the period. Acuitas Investments LLC owned approximately 3.68% of Astrotech worth $531,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 24.35% of the company’s stock.

Astrotech Price Performance

Shares of NASDAQ:ASTC traded down $0.22 on Tuesday, reaching $8.87. 673 shares of the company traded hands, compared to its average volume of 3,892. The stock has a market capitalization of $15.08 million, a PE ratio of -1.31 and a beta of -0.15. The company’s 50 day moving average is $9.27 and its 200-day moving average is $8.64. Astrotech has a fifty-two week low of $7.00 and a fifty-two week high of $13.97.

Astrotech (NASDAQ:ASTC) last announced its earnings results on Monday, May 13th. The aerospace company reported ($1.93) EPS for the quarter. The company had revenue of $0.05 million for the quarter. Astrotech had a negative net margin of 550.25% and a negative return on equity of 26.78%.

About Astrotech

Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.