Short Interest in Astrotech Corporation (NASDAQ:ASTC) Increases By 2,336.3%

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

Astrotech Stock Performance

Shares of ASTC traded down $3.55 on Tuesday, hitting $25.58. 567,211 shares of the stock traded hands, compared to its average volume of 12,703,458. The company has a market capitalization of $46.04 million, a PE ratio of -3.04 and a beta of 4.60. The business has a 50 day simple moving average of $9.38 and a 200 day simple moving average of $5.36. Astrotech has a one year low of $1.91 and a one year high of $68.85.

Astrotech (NASDAQ:ASTC) last released its quarterly earnings data on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share for the quarter. The company 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%.

Hedge Funds Weigh In On Astrotech

Several institutional investors have recently made changes to their positions in ASTC. Susquehanna International Group LLP purchased a new stake in Astrotech during the third quarter valued at approximately $66,000. DRW Securities LLC grew its holdings in Astrotech by 168.5% during the fourth quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after purchasing an additional 19,747 shares during the period. Finally, J. Safra Sarasin Holding AG purchased a new stake in Astrotech in the first quarter worth about $140,000. Institutional investors own 24.35% of the company’s stock.

Analysts Set New Price Targets

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 data from MarketBeat.com, the company presently has a consensus 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.