Astronics (NASDAQ:ATRO) Shares Gap Down – What’s Next?

Astronics Co. (NASDAQ:ATRO) gapped down prior to trading on Wednesday . The stock had previously closed at $17.61, but opened at $15.66. Astronics shares last traded at $15.66, with a volume of 1,001 shares changing hands.

Analysts Set New Price Targets

Separately, Truist Financial lowered 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 Price Performance

The company has a fifty day simple moving average of $18.73 and a two-hundred day simple moving average of $19.70. The stock has a market capitalization of $572.98 million, a price-to-earnings ratio of -82.42 and a beta of 1.83. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ATRO. Point72 Asset Management L.P. bought a new position in Astronics in the 2nd quarter valued at about $25,000. nVerses Capital LLC acquired a new position in Astronics during the second quarter valued at approximately $28,000. Public Employees Retirement System of Ohio bought a new stake in Astronics during the first quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Astronics in the 3rd quarter valued at $106,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Astronics by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after purchasing an additional 971 shares in the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

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.