Wall Street Zen Downgrades Astrotech (NASDAQ:ASTC) to Strong Sell

Astrotech (NASDAQ:ASTC) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Astrotech in a report on Monday, August 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Astrotech has a consensus rating of “Sell”.

Astrotech Price Performance

NASDAQ:ASTC opened at $7.15 on Friday. The firm has a market capitalization of $15.09 million, a PE ratio of -0.85 and a beta of 4.87. The business’s fifty day moving average price is $8.56 and its 200 day moving average price is $7.95. Astrotech has a 12 month low of $1.91 and a 12 month high of $68.85.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASTC. SCS Capital Management LLC acquired a new stake in Astrotech during the 2nd quarter worth $120,000. Susquehanna International Group LLP acquired a new position in Astrotech in the third quarter valued at $66,000. BlackRock Inc. acquired a new position in Astrotech in the second quarter valued at $220,000. J. Safra Sarasin Holding AG purchased a new position in shares of Astrotech during the first quarter worth about $140,000. Finally, DRW Securities LLC lifted its holdings 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 purchasing an additional 19,747 shares during the last quarter. 24.35% of the stock is owned by hedge funds and other institutional investors.

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.