Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 291,900 shares, a growth of 13.1% from the June 30th total of 258,200 shares. Based on an average daily volume of 157,900 shares, the days-to-cover ratio is currently 1.8 days.

Astronics Stock Down 1.1 %

Shares of ATRO traded down $0.24 during trading hours on Tuesday, hitting $22.08. 35,380 shares of the stock were exchanged, compared to its average volume of 141,503. The stock’s 50-day moving average price is $20.41 and its two-hundred day moving average price is $18.83. The company has a quick ratio of 1.27, a current ratio of 2.59 and a debt-to-equity ratio of 0.61. Astronics has a 12-month low of $14.11 and a 12-month high of $23.74.

Astronics (NASDAQ:ATRO) last released its quarterly earnings data on Thursday, May 2nd. The aerospace company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.14). The company had revenue of $185.07 million for the quarter, compared to analyst estimates of $172.74 million. Astronics had a negative return on equity of 5.93% and a negative net margin of 3.51%. During the same period last year, the firm posted ($0.14) EPS. Sell-side analysts forecast that Astronics will post 0.49 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their price objective on Astronics from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th.

Hedge Funds Weigh In On Astronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RiverPark Advisors LLC lifted its stake in shares of Astronics by 9.6% in the 2nd quarter. RiverPark Advisors LLC now owns 29,379 shares of the aerospace company’s stock valued at $588,000 after purchasing an additional 2,577 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Astronics by 4,973.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock valued at $219,000 after buying an additional 10,742 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Astronics by 15.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 116,175 shares of the aerospace company’s stock valued at $2,327,000 after buying an additional 15,253 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in Astronics by 41.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,717 shares of the aerospace company’s stock worth $355,000 after purchasing an additional 5,148 shares during the period. Finally, Bares Capital Management Inc. increased its holdings in Astronics by 10.4% during the 1st quarter. Bares Capital Management Inc. now owns 899,351 shares of the aerospace company’s stock worth $17,124,000 after purchasing an additional 84,659 shares during the period. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.