Astronics (NASDAQ:ATRO) Shares Up 6% – Here’s Why

Astronics Co. (NASDAQ:ATRO)’s stock price shot up 6% during trading on Friday . The stock traded as high as $16.59 and last traded at $16.54. 61,660 shares traded hands during trading, a decline of 60% from the average session volume of 153,283 shares. The stock had previously closed at $15.60.

Wall Street Analyst Weigh In

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

Astronics Price Performance

The stock’s 50-day moving average price is $16.54 and its 200 day moving average price is $18.87. The company has a quick ratio of 1.46, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $564.90 million, a price-to-earnings ratio of -84.31 and a beta of 1.79.

Institutional Investors Weigh In On Astronics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in Astronics in the 2nd quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astronics during the third quarter worth $106,000. DekaBank Deutsche Girozentrale increased its holdings in 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. EP Wealth Advisors LLC acquired a new stake in Astronics in the third quarter valued at $202,000. Finally, Stifel Financial Corp purchased a new stake in Astronics during the 3rd quarter worth about $212,000. 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.