Astronics Co. (NASDAQ:ATRO) Short Interest Up 27.1% in December

Astronics Co. (NASDAQ:ATRO) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,780,000 shares, a growth of 27.1% from the November 30th total of 1,400,000 shares. Based on an average trading volume of 296,200 shares, the short-interest ratio is presently 6.0 days.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their price target on Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, October 18th.

Astronics Price Performance

Astronics stock opened at $15.80 on Tuesday. The firm has a market capitalization of $557.14 million, a P/E ratio of -83.15 and a beta of 1.79. The business has a 50-day moving average of $16.93 and a 200-day moving average of $19.04. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. Astronics has a 1 year low of $14.13 and a 1 year high of $23.74.

Institutional Investors Weigh In On Astronics

Several hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Astronics by 6.7% in the 3rd quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after buying an additional 58,356 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Astronics by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock worth $17,806,000 after acquiring an additional 40,438 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Astronics by 2.0% during the third quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock worth $13,474,000 after purchasing an additional 13,469 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Astronics by 8.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock valued at $7,840,000 after purchasing an additional 30,550 shares in the last quarter. Finally, Needham Investment Management LLC grew its position in shares of Astronics by 9.2% in the 3rd quarter. Needham Investment Management LLC now owns 267,500 shares of the aerospace company’s stock valued at $5,211,000 after purchasing an additional 22,500 shares during the period. 56.68% of the stock is currently owned by institutional investors and hedge funds.

About Astronics

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.