Astronics (NASDAQ:ATRO) Share Price Crosses Above 200-Day Moving Average of $19.32

Astronics Co. (NASDAQ:ATRO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.32 and traded as high as $21.16. Astronics shares last traded at $20.83, with a volume of 85,088 shares.

Analyst Ratings Changes

Separately, Truist Financial increased their price objective on Astronics from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, August 2nd.

Astronics Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 2.92 and a quick ratio of 1.50. The firm has a market cap of $725.76 million, a price-to-earnings ratio of -27.05 and a beta of 1.87. The business’s 50-day moving average price is $20.66 and its two-hundred day moving average price is $19.32.

Astronics (NASDAQ:ATRO) last issued its quarterly earnings results on Thursday, August 1st. The aerospace company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.13). Astronics had a negative net margin of 1.57% and a negative return on equity of 0.31%. The business had revenue of $198.11 million during the quarter, compared to analyst estimates of $191.19 million. During the same quarter last year, the firm posted ($0.37) earnings per share. Equities analysts expect that Astronics Co. will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. acquired a new position in Astronics during the second quarter worth approximately $25,000. nVerses Capital LLC purchased a new position in shares of Astronics in the 2nd quarter worth $28,000. Public Employees Retirement System of Ohio acquired a new position in Astronics in the first quarter valued at $31,000. Psagot Value Holdings Ltd. Israel grew its position in Astronics by 856.5% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,352 shares of the aerospace company’s stock valued at $77,000 after acquiring an additional 3,897 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Astronics by 4,973.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,958 shares of the aerospace company’s stock worth $219,000 after acquiring an additional 10,742 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

Astronics Company Profile

Astronics Corporation, through its subsidiaries, designs and manufactures products for the aerospace, defense, and electronics industries in the United States, rest of North America, Asia, Europe, South America, and internationally. The company operates in two segments, Aerospace and Test Systems. The Aerospace segment offers lighting and safety systems, electrical power generation systems, distribution and seat motions systems, aircraft structures, avionics products, system certification, and other products.