Astrotech Corporation (NASDAQ:ASTC) Short Interest Down 43.1% in July

Astrotech Corporation (NASDAQ:ASTC) was the target of a large decline in short interest in July. As of July 15th, there was short interest totaling 89,847 shares, a decline of 43.1% from the June 30th total of 157,846 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 149,729 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

ASTC has been the subject of a number of analyst reports. Wall Street Zen cut Astrotech from a “sell” rating to a “strong sell” rating in a report on Monday, July 20th. Weiss Ratings raised shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Astrotech Price Performance

Shares of NASDAQ:ASTC traded down $0.20 during trading on Wednesday, reaching $6.21. The stock had a trading volume of 26,656 shares, compared to its average volume of 2,738,875. The stock has a market capitalization of $11.17 million, a PE ratio of -0.74 and a beta of 4.77. Astrotech has a 52 week low of $1.91 and a 52 week high of $68.85. The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $7.25.

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 business 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 hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP bought a new stake in shares of Astrotech in the 3rd quarter valued at $66,000. DRW Securities LLC lifted 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 worth $109,000 after acquiring an additional 19,747 shares in the last quarter. Finally, J. Safra Sarasin Holding AG bought a new position in Astrotech during the first quarter worth about $140,000. Institutional investors own 24.35% of the company’s stock.

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.