Astrotech (NASDAQ:ASTC) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Astrotech Corporation (NASDAQ:ASTC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.32 and traded as high as $12.90. Astrotech shares last traded at $11.78, with a volume of 322,257 shares traded.

Analyst Upgrades and Downgrades

ASTC has been the topic of several recent analyst reports. Weiss Ratings raised Astrotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 27th. Wall Street Zen downgraded Astrotech to a “strong sell” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Astrotech Stock Performance

The stock’s 50-day moving average is $11.92 and its two-hundred day moving average is $6.32. The stock has a market cap of $21.20 million, a PE ratio of -1.40 and a beta of 4.60.

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

Institutional Investors Weigh In On Astrotech

A number of institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in Astrotech during the 3rd quarter valued at about $66,000. DRW Securities LLC grew its position in Astrotech by 168.5% in the 4th quarter. DRW Securities LLC now owns 31,464 shares of the aerospace company’s stock valued at $109,000 after acquiring an additional 19,747 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new stake in Astrotech during the first quarter worth about $140,000. 24.35% of the stock is 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.