Astronics (NASDAQ:ATRO) Reaches New 52-Week Low – Should You Sell?

Astronics Co. (NASDAQ:ATRO)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $14.13 and last traded at $14.78, with a volume of 1087690 shares. The stock had previously closed at $17.61.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, October 18th.

Astronics Stock Performance

The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46. The company has a market capitalization of $565.57 million, a price-to-earnings ratio of -84.42 and a beta of 1.83. The stock has a 50-day moving average price of $18.65 and a 200-day moving average price of $19.67.

Hedge Funds Weigh In On Astronics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new stake in shares of Astronics during the 2nd quarter worth about $25,000. nVerses Capital LLC bought a new position in Astronics in the 2nd quarter valued at about $28,000. Public Employees Retirement System of Ohio acquired a new stake in Astronics during the first quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Astronics during the third quarter worth approximately $106,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Astronics by 13.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after acquiring an additional 971 shares during the period. 56.68% of the stock is owned by institutional investors.

About Astronics

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.