Short Interest in Astrotech Corporation (NASDAQ:ASTC) Rises By 95.2%

Astrotech Corporation (NASDAQ:ASTC) saw a significant increase in short interest in April. As of April 30th, there was short interest totaling 75,943 shares, an increase of 95.2% from the April 15th total of 38,911 shares. Based on an average daily trading volume, of 129,737 shares, the short-interest ratio is presently 0.6 days. Approximately 5.2% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Astrotech from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Astrotech presently has a consensus rating of “Sell”.

Astrotech Stock Performance

NASDAQ ASTC opened at $2.42 on Tuesday. Astrotech has a one year low of $1.91 and a one year high of $8.01. The company’s 50 day moving average price is $3.03 and its 200 day moving average price is $3.25. The firm has a market capitalization of $4.26 million, a price-to-earnings ratio of -0.29 and a beta of -0.25.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASTC. Susquehanna International Group LLP bought a new stake in Astrotech in the 3rd quarter valued at about $66,000. DRW Securities LLC lifted its position in Astrotech by 168.5% in the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 19,747 shares during the period. Finally, J. Safra Sarasin Holding AG bought a new position in Astrotech during the first quarter valued at about $140,000. Institutional investors and hedge funds own 24.35% of the company’s stock.

Astrotech Company Profile

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.