Astrotech Corporation (NASDAQ:ASTC) Sees Large Decrease in Short Interest

Astrotech Corporation (NASDAQ:ASTC) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 38,911 shares, a decline of 95.9% from the March 31st total of 960,143 shares. Based on an average daily trading volume, of 594,830 shares, the days-to-cover ratio is currently 0.1 days. Currently, 2.7% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Astrotech in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Astrotech Trading Up 4.6%

Shares of ASTC traded up $0.15 during midday trading on Friday, reaching $3.41. The stock had a trading volume of 618,379 shares, compared to its average volume of 1,622,836. The company’s 50-day moving average is $2.98 and its 200 day moving average is $3.42. Astrotech has a 12-month low of $1.91 and a 12-month high of $8.01. The company has a market capitalization of $6.00 million, a price-to-earnings ratio of -0.41 and a beta of -0.12.

Astrotech (NASDAQ:ASTC) last posted its quarterly earnings data on Friday, February 13th. The aerospace company reported ($2.34) earnings per share (EPS) for the quarter. Astrotech had a negative return on equity of 68.53% and a negative net margin of 1,163.89%.The firm had revenue of $0.15 million during the quarter.

Hedge Funds Weigh In On Astrotech

An institutional investor recently raised its position in Astrotech stock. DRW Securities LLC increased its stake in Astrotech Corporation (NASDAQ:ASTC) by 168.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,464 shares of the aerospace company’s stock after acquiring an additional 19,747 shares during the period. DRW Securities LLC owned about 1.79% of Astrotech worth $109,000 as of its most recent SEC filing. 24.35% of the stock is currently owned by institutional investors and hedge funds.

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.