Astronics (NASDAQ:ATRO) Stock Price Down 10.4% – Time to Sell?

Shares of Astronics Co. (NASDAQ:ATRO) dropped 10.4% on Thursday . The company traded as low as $18.30 and last traded at $18.43. Approximately 35,412 shares traded hands during trading, a decline of 75% from the average daily volume of 143,413 shares. The stock had previously closed at $20.57.

Analyst Ratings Changes

Separately, Truist Financial reduced their price objective on shares of Astronics from $22.00 to $20.00 and set a “hold” rating on the stock in a report on Friday, October 18th.

Astronics Trading Down 0.2 %

The stock has a market capitalization of $630.29 million, a price-to-earnings ratio of -95.21 and a beta of 1.83. The company has a quick ratio of 1.50, a current ratio of 2.92 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average of $19.46 and a two-hundred day moving average of $19.73.

Hedge Funds Weigh In On Astronics

A number of institutional investors and hedge funds have recently made changes to their positions in ATRO. Point72 Asset Management L.P. acquired a new position in Astronics during the second quarter worth $25,000. nVerses Capital LLC purchased a new position in shares of Astronics in the second quarter valued at $28,000. Public Employees Retirement System of Ohio acquired a new position in shares of Astronics during the 1st quarter worth $31,000. DekaBank Deutsche Girozentrale boosted its position in shares of Astronics by 13.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,146 shares of the aerospace company’s stock worth $163,000 after buying an additional 971 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position 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. 56.68% of the stock is owned by institutional investors and hedge funds.

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.