Astronics (NASDAQ:ATRO) Shares Gap Up – Should You Buy?

Shares of Astronics Co. (NASDAQ:ATRO) gapped up before the market opened on Friday . The stock had previously closed at $18.78, but opened at $19.65. Astronics shares last traded at $19.63, with a volume of 111,996 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Truist Financial dropped their price objective on shares of Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a report on Tuesday, January 14th.

Astronics Stock Performance

The company has a market cap of $712.29 million, a PE ratio of -106.31 and a beta of 1.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock’s 50-day simple moving average is $17.12 and its 200 day simple moving average is $18.18.

Hedge Funds Weigh In On Astronics

Large investors have recently bought and sold shares of the company. Royce & Associates LP grew its stake in shares of Astronics by 18.7% during the 4th quarter. Royce & Associates LP now owns 1,150,355 shares of the aerospace company’s stock worth $18,360,000 after purchasing an additional 181,619 shares during the period. Dimensional Fund Advisors LP grew its holdings in Astronics by 6.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 998,506 shares of the aerospace company’s stock valued at $15,936,000 after purchasing an additional 58,149 shares during the period. State Street Corp grew its holdings in Astronics by 6.7% in the third quarter. State Street Corp now owns 924,070 shares of the aerospace company’s stock valued at $18,001,000 after purchasing an additional 58,356 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in Astronics by 58.7% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 881,504 shares of the aerospace company’s stock valued at $14,069,000 after purchasing an additional 325,904 shares during the period. Finally, Geode Capital Management LLC lifted its position in Astronics by 2.0% during the third quarter. Geode Capital Management LLC now owns 691,522 shares of the aerospace company’s stock valued at $13,474,000 after buying an additional 13,469 shares in the last quarter. Hedge funds and other 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.