Astrotech Corporation (NASDAQ:ASTC) Sees Large Decrease in Short Interest

Astrotech Corporation (NASDAQ:ASTC) was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 38,911 shares, a decline of 95.9% from the March 31st total of 960,143 shares. Approximately 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 594,830 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Astrotech in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Astrotech presently has a consensus rating of “Sell”.

Astrotech Stock Up 4.6%

Shares of NASDAQ:ASTC traded up $0.15 during midday trading on Friday, reaching $3.41. 618,379 shares of the company traded hands, compared to its average volume of 1,622,836. Astrotech has a 12 month low of $1.91 and a 12 month high of $8.01. The firm has a market capitalization of $6.00 million, a price-to-earnings ratio of -0.41 and a beta of -0.12. The firm’s fifty day moving average price is $2.98 and its two-hundred day moving average price is $3.42.

Astrotech (NASDAQ:ASTC) last released its quarterly earnings data on Friday, February 13th. The aerospace company reported ($2.34) earnings per share (EPS) for the quarter. Astrotech had a negative net margin of 1,163.89% and a negative return on equity of 68.53%. The company had revenue of $0.15 million for the quarter.

Hedge Funds Weigh In On Astrotech

A hedge fund recently bought a new stake in Astrotech stock. Susquehanna International Group LLP bought a new position in shares of Astrotech Corporation (NASDAQ:ASTC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 13,539 shares of the aerospace company’s stock, valued at approximately $66,000. Susquehanna International Group LLP owned approximately 0.77% of Astrotech as of its most recent SEC filing. Hedge funds and other 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.