Astronics Co. Experiences Notable Increase in Short Interest

Astronics Co. (NASDAQ:ATRO) has witnessed a significant rise in short interest during December. As of December 15th, the short interest reached 1,780,000 shares, representing a 27.1% increase from the 1,400,000 shares reported on November 30th. This surge indicates growing interest in short selling the stock, and with an average daily trading volume of 296,200 shares, the current short-interest ratio stands at 6.0 days.

Astronics Stock Performance

On Friday, shares of Astronics (NASDAQ: ATRO) fell by $0.11, bringing their price to $16.03. The trading volume for the day reached 303,226 shares, significantly surpassing the company's average volume of 188,823 shares. The stock has experienced a fifty-two week low of $14.13 and a high of $23.74. Astronics currently has a market capitalization of $565.25 million, with a PE ratio of -84.36 and a beta of 1.79. Additionally, the stock has a fifty-day simple moving average of $16.99 and a 200-day simple moving average of $19.06. The company maintains a debt-to-equity ratio of 0.72, a current ratio of 2.83, and a quick ratio of 1.46.

Analysts Update Price Targets

In recent analysis, Truist Financial reduced its price target for Astronics shares from $22.00 to $20.00, categorizing the stock as a "hold" in a research note released on October 18th.

Institutional Holdings in Astronics

Several hedge funds have recently adjusted their investments in Astronics. Point72 Asset Management L.P. established a new position worth approximately $25,000 in the second quarter. Similarly, nVerses Capital LLC took a new stake valued at around $28,000 during the same period. In the third quarter, Point72 Asia Singapore Pte. Ltd. purchased a new investment in Astronics worth about $106,000. DekaBank Deutsche Girozentrale increased its stake by 13.5% in the third quarter, now owning 8,146 shares valued at $163,000 after acquiring an additional 971 shares. Finally, EP Wealth Advisors LLC also secured a new position in Astronics, with a total investment of $202,000. Currently, institutional investors and hedge funds own about 56.68% of Astronics shares.

About Astronics Corporation

Astronics Corporation is engaged in the design and manufacturing of products for the aerospace, defense, and electronics sectors, both in the United States and internationally. The company operates in two primary segments: Aerospace and Test Systems. The Aerospace segment provides various products including lighting and safety systems, electrical power generation systems, distribution and motion systems for seating, aircraft structures, avionics products, system certification services, and more.

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Should You Consider Investing in Astronics?

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