Astronics (NASDAQ:ATRO) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Astronics Co. (NASDAQ:ATRO) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $18.40 and traded as high as $18.63. Astronics shares last traded at $18.43, with a volume of 200,463 shares trading hands.

Analyst Ratings Changes

Several analysts have recently weighed in on ATRO shares. StockNews.com upgraded shares of Astronics from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th. Truist Financial decreased their price target on Astronics from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th.

Astronics Stock Up 0.7 %

The stock has a market cap of $649.84 million, a price-to-earnings ratio of -96.99 and a beta of 1.79. The firm has a 50 day simple moving average of $16.46 and a two-hundred day simple moving average of $18.40. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 1.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ATRO. Point72 Asset Management L.P. grew its stake in Astronics by 337.9% in the third quarter. Point72 Asset Management L.P. now owns 5,356 shares of the aerospace company’s stock valued at $104,000 after acquiring an additional 4,133 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astronics during the 3rd quarter worth about $106,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Astronics by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock valued at $163,000 after acquiring an additional 971 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Astronics during the fourth quarter worth about $135,000. Finally, EP Wealth Advisors LLC bought a new position in Astronics in the third quarter valued at approximately $202,000. Institutional investors own 56.68% of the company’s stock.

Astronics Company Profile

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.