Short Interest in Astrotech Corporation (NASDAQ:ASTC) Decreases By 45.6%

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 41,339 shares, a decrease of 45.6% from the April 30th total of 75,943 shares. Based on an average daily trading volume, of 33,882 shares, the short-interest ratio is currently 1.2 days. Approximately 2.8% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Astrotech has an average rating of “Sell”.

Astrotech Stock Down 3.5%

Shares of NASDAQ ASTC traded down $1.59 during trading hours on Wednesday, reaching $43.91. 3,295,683 shares of the stock traded hands, compared to its average volume of 3,564,231. The company has a market capitalization of $77.24 million, a P/E ratio of -5.22 and a beta of 4.47. Astrotech has a 52-week low of $1.91 and a 52-week high of $68.85. The company’s 50-day simple moving average is $5.41 and its two-hundred day simple moving average is $4.00.

Astrotech (NASDAQ:ASTC) last announced its quarterly earnings data 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 Investors Weigh In On Astrotech

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new stake in shares of Astrotech in the 3rd quarter valued at about $66,000. DRW Securities LLC lifted its stake in shares of Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 19,747 shares during the last quarter. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of Astrotech in the 1st quarter valued at 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.