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

Astrotech Corporation (NASDAQ:ASTC) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 40,960 shares, a decrease of 65.5% from the December 15th total of 118,829 shares. Approximately 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 34,610 shares, the short-interest ratio is currently 1.2 days. Based on an average daily trading volume, of 34,610 shares, the short-interest ratio is currently 1.2 days. Approximately 2.8% of the company’s shares are sold short.

Astrotech Stock Up 5.5%

Astrotech stock opened at $3.48 on Tuesday. The firm has a fifty day moving average of $3.50 and a 200-day moving average of $4.51. Astrotech has a 52-week low of $2.46 and a 52-week high of $8.01. The firm has a market capitalization of $6.12 million, a P/E ratio of -0.41 and a beta of 0.34.

Astrotech (NASDAQ:ASTC) last announced its quarterly earnings results on Thursday, November 13th. The aerospace company reported ($2.07) earnings per share for the quarter. Astrotech had a negative return on equity of 59.71% and a negative net margin of 1,069.89%.The business had revenue of $0.30 million for the quarter.

Hedge Funds Weigh In On Astrotech

A hedge fund recently bought a new stake in Astrotech stock. Susquehanna International Group LLP purchased a new position in Astrotech Corporation (NASDAQ:ASTC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,539 shares of the aerospace company’s stock, valued at approximately $66,000. Susquehanna International Group LLP owned approximately 0.77% of Astrotech as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 24.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Astrotech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Astrotech currently has an average rating of “Sell”.

About Astrotech

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.