Astronics Co. (NASDAQ:ATRO) Short Interest Update

Astronics Co. (NASDAQ:ATRO) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 3,190,000 shares, an increase of 27.6% from the March 15th total of 2,500,000 shares. Based on an average daily volume of 461,500 shares, the days-to-cover ratio is presently 6.9 days. Approximately 10.1% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, Director Robert S. Keane sold 77,099 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.55, for a total transaction of $1,892,780.45. Following the sale, the director now owns 6,346 shares of the company’s stock, valued at $155,794.30. This trade represents a 92.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.83% of the stock is owned by corporate insiders.

Institutional Trading of Astronics

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Astronics by 4.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,422 shares of the aerospace company’s stock worth $262,000 after acquiring an additional 684 shares in the last quarter. Franklin Resources Inc. increased its holdings in Astronics by 3.4% in the fourth quarter. Franklin Resources Inc. now owns 20,882 shares of the aerospace company’s stock worth $333,000 after purchasing an additional 693 shares in the last quarter. Swiss National Bank lifted its stake in Astronics by 2.2% in the fourth quarter. Swiss National Bank now owns 54,800 shares of the aerospace company’s stock valued at $875,000 after buying an additional 1,200 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Astronics by 4.7% during the 4th quarter. Federated Hermes Inc. now owns 35,844 shares of the aerospace company’s stock worth $572,000 after buying an additional 1,612 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Astronics by 2.7% during the 4th quarter. Legal & General Group Plc now owns 68,426 shares of the aerospace company’s stock worth $1,092,000 after buying an additional 1,770 shares during the period. Institutional investors own 56.68% of the company’s stock.

Astronics Trading Down 4.5 %

Shares of ATRO stock opened at $21.76 on Friday. Astronics has a 1-year low of $14.13 and a 1-year high of $26.63. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The stock has a market cap of $767.45 million, a price-to-earnings ratio of -114.52 and a beta of 1.26. The stock has a 50-day moving average of $22.56 and a 200-day moving average of $19.18.

Astronics (NASDAQ:ATRO) last released its earnings results on Tuesday, March 4th. The aerospace company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.27. The business had revenue of $208.54 million during the quarter, compared to the consensus estimate of $194.91 million. Astronics had a negative net margin of 0.82% and a positive return on equity of 6.94%. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, equities research analysts forecast that Astronics will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ATRO. Truist Financial reduced their price target on Astronics from $23.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th.

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.