Astronics Co. (NASDAQ:ATRO) Short Interest Up 291.8% in November

Astronics Co. (NASDAQ:ATRO) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,400,000 shares, an increase of 291.8% from the November 15th total of 357,300 shares. Based on an average daily trading volume, of 270,200 shares, the short-interest ratio is currently 5.2 days.

Institutional Investors Weigh In On Astronics

Several hedge funds have recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its position in shares of Astronics by 13.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after buying an additional 971 shares during the last quarter. RiverPark Advisors LLC raised its holdings in Astronics by 3.5% in the 3rd quarter. RiverPark Advisors LLC now owns 30,394 shares of the aerospace company’s stock valued at $592,000 after acquiring an additional 1,015 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Astronics by 10.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,195 shares of the aerospace company’s stock worth $224,000 after purchasing an additional 1,094 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Astronics during the second quarter worth $25,000. Finally, Franklin Resources Inc. grew its position in shares of Astronics by 6.7% in the third quarter. Franklin Resources Inc. now owns 20,189 shares of the aerospace company’s stock valued at $411,000 after purchasing an additional 1,274 shares during the period. 56.68% of the stock is owned by institutional investors and hedge funds.

Astronics Stock Performance

Shares of NASDAQ:ATRO traded down $0.22 on Friday, hitting $15.99. The company had a trading volume of 213,768 shares, compared to its average volume of 182,721. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. Astronics has a 52-week low of $14.13 and a 52-week high of $23.74. The business has a 50 day moving average of $17.86 and a 200 day moving average of $19.36.

Analysts Set New Price Targets

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

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.