Astrotech Corporation (NASDAQ:ASTC) Sees Significant Increase in Short Interest

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a large increase in short interest in May. As of May 29th, there was short interest totaling 1,007,150 shares, an increase of 2,336.3% from the May 14th total of 41,339 shares. Based on an average daily volume of 24,372,121 shares, the short-interest ratio is presently 0.0 days. Currently, 67.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Astrotech

Several large investors have recently bought and sold shares of ASTC. Susquehanna International Group LLP purchased a new position in Astrotech in the third quarter valued at $66,000. DRW Securities LLC increased its holdings in Astrotech by 168.5% in the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after buying an additional 19,747 shares during the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new position in Astrotech in the first quarter valued at $140,000. Hedge funds and other institutional investors own 24.35% of the company’s stock.

Astrotech Stock Down 6.2%

Shares of NASDAQ ASTC opened at $24.00 on Thursday. The firm has a market cap of $43.20 million, a price-to-earnings ratio of -2.85 and a beta of 4.60. Astrotech has a 52-week low of $1.91 and a 52-week high of $68.85. The business’s 50 day moving average is $9.76 and its two-hundred day moving average is $5.51.

Astrotech (NASDAQ:ASTC) last announced its earnings results on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share (EPS) for the quarter. Astrotech had a negative net margin of 1,397.82% and a negative return on equity of 81.85%. The firm had revenue of $0.34 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently 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.