Astronics (NASDAQ:ATRO) Shares Down 10.4% – Should You Sell?

Astronics Co. (NASDAQ:ATRO)’s share price fell 10.4% during mid-day trading on Thursday . The company traded as low as $18.30 and last traded at $18.43. 35,412 shares were traded during mid-day trading, a decline of 75% from the average session volume of 143,413 shares. The stock had previously closed at $20.57.

Wall Street Analyst Weigh In

Separately, Truist Financial decreased their target price on shares of Astronics from $22.00 to $20.00 and set a “hold” rating for the company in a research report on Friday, October 18th.

Astronics Trading Down 11.2 %

The company has a 50 day moving average of $19.63 and a two-hundred day moving average of $19.73. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.50 and a current ratio of 2.92. The stock has a market capitalization of $636.53 million, a PE ratio of -51.19 and a beta of 1.83.

Hedge Funds Weigh In On Astronics

Hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC purchased a new stake in Astronics during the 2nd quarter worth approximately $857,000. Advisors Asset Management Inc. lifted its stake in shares of Astronics by 103.1% during the first quarter. Advisors Asset Management Inc. now owns 47,322 shares of the aerospace company’s stock worth $901,000 after buying an additional 24,027 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Astronics by 8.5% during the second quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock valued at $7,840,000 after buying an additional 30,550 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Astronics by 115.4% in the 3rd quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock valued at $222,000 after acquiring an additional 6,101 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Astronics by 84.5% in the 1st quarter. GSA Capital Partners LLP now owns 33,248 shares of the aerospace company’s stock worth $633,000 after acquiring an additional 15,228 shares during the last quarter. Institutional investors and hedge funds own 56.68% of the company’s stock.

About Astronics

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.