Astrotech (NASDAQ:ASTC) Share Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Astrotech Corporation (NASDAQ:ASTC) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.52 and traded as low as $4.04. Astrotech shares last traded at $4.06, with a volume of 39,351 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Astrotech in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Astrotech Trading Down 4.5%

The firm has a market cap of $7.15 million, a P/E ratio of -0.48 and a beta of 0.26. The stock has a 50 day simple moving average of $4.99 and a 200-day simple moving average of $5.52.

Astrotech (NASDAQ:ASTC) last announced its quarterly earnings results on Thursday, September 25th. The aerospace company reported ($1.75) earnings per share for the quarter. Astrotech had a negative return on equity of 51.77% and a negative net margin of 1,320.31%.The business had revenue of $0.22 million during the quarter.

Insider Activity

In related news, major shareholder Braden Michael Leonard sold 220,410 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $7.13, for a total value of $1,571,523.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 14.90% of the company’s stock.

Institutional Investors Weigh In On Astrotech

An institutional investor recently bought a new position in Astrotech stock. SCS Capital Management LLC bought a new stake in shares of Astrotech Corporation (NASDAQ:ASTC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,761 shares of the aerospace company’s stock, valued at approximately $76,000. SCS Capital Management LLC owned about 0.69% of Astrotech as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 24.35% of the company’s stock.

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.