Astrotech (NASDAQ:ASTC) Share Price Passes Below 200 Day Moving Average – What’s Next?

Astrotech Corporation (NASDAQ:ASTC) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.19 and traded as low as $2.32. Astrotech shares last traded at $2.47, with a volume of 73,907 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings cut Astrotech from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Astrotech Stock Up 8.3%

The stock has a market cap of $4.35 million, a price-to-earnings ratio of -0.29 and a beta of -0.25. The company’s 50-day moving average is $3.03 and its 200-day moving average is $3.19.

Astrotech (NASDAQ:ASTC) last released its quarterly earnings data on Wednesday, May 13th. The aerospace company reported ($2.25) earnings per share for the quarter. Astrotech had a negative net margin of 1,397.82% and a negative return on equity of 81.85%. The company had revenue of $0.34 million for the quarter.

Institutional Trading of Astrotech

A number of large investors have recently bought and sold shares of ASTC. Susquehanna International Group LLP acquired a new position in Astrotech during the third quarter worth $66,000. DRW Securities LLC grew its holdings in shares of Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock worth $109,000 after purchasing an additional 19,747 shares during the last quarter. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of Astrotech during the 1st quarter worth about $140,000. 24.35% of the stock is currently owned by institutional investors.

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.