Astrotech (NASDAQ:ASTC) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Astrotech Corporation (NASDAQ:ASTC)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.32 and traded as high as $12.90. Astrotech shares last traded at $11.78, with a volume of 322,257 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on ASTC. Wall Street Zen downgraded Astrotech to a “strong sell” rating in a report on Saturday, June 13th. Weiss Ratings upgraded Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Astrotech Stock Performance

The company’s fifty day simple moving average is $12.05 and its two-hundred day simple moving average is $6.37. The company has a market capitalization of $18 million, a price-to-earnings ratio of -1.19 and a beta of 4.60.

Astrotech (NASDAQ:ASTC) last issued its earnings results on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share (EPS) for the quarter. The company had revenue of $0.34 million during 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

Hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new stake in shares of Astrotech in the 3rd quarter valued at approximately $66,000. J. Safra Sarasin Holding AG bought a new position in Astrotech during the first quarter worth $140,000. Finally, DRW Securities LLC lifted its stake 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 purchasing an additional 19,747 shares during the last quarter. 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.