Astrotech Co. (NASDAQ:ASTC) Sees Significant Decline in Short Interest

Astrotech Co. (NASDAQ:ASTC) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 13,600 shares, a decrease of 5.6% from the May 31st total of 14,400 shares. Based on an average daily volume of 3,800 shares, the short-interest ratio is presently 3.6 days. Currently, 0.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Astrotech stock. Acuitas Investments LLC lifted its position in Astrotech Co. (NASDAQ:ASTC) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,570 shares of the aerospace company’s stock after acquiring an additional 9,623 shares during the period. Acuitas Investments LLC owned 3.68% of Astrotech worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 24.35% of the stock is owned by institutional investors.

Astrotech Price Performance

Astrotech stock opened at $8.60 on Thursday. The business has a fifty day moving average price of $9.26 and a 200-day moving average price of $8.64. Astrotech has a 1-year low of $7.00 and a 1-year high of $13.97. The stock has a market capitalization of $14.64 million, a price-to-earnings ratio of -1.27 and a beta of -0.15.

Astrotech (NASDAQ:ASTC) last issued its quarterly earnings results on Monday, May 13th. The aerospace company reported ($1.93) earnings per share for the quarter. The business had revenue of $0.05 million for the quarter. Astrotech had a negative return on equity of 26.78% and a negative net margin of 550.25%.

About Astrotech

Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.