Astronics (NASDAQ:ATRO) Shares Gap Down – What’s Next?

Astronics Co. (NASDAQ:ATRO)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $17.61, but opened at $15.66. Astronics shares last traded at $15.66, with a volume of 1,001 shares traded.

Wall Street Analyst Weigh In

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

Astronics Trading Up 2.4 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.46 and a current ratio of 2.83. The stock has a market capitalization of $565.57 million, a P/E ratio of -84.42 and a beta of 1.83. The stock has a 50-day moving average price of $18.65 and a two-hundred day moving average price of $19.67.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ATRO. Russell Investments Group Ltd. boosted its stake in shares of Astronics by 9.6% during the 1st quarter. Russell Investments Group Ltd. now owns 23,900 shares of the aerospace company’s stock valued at $455,000 after purchasing an additional 2,100 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Astronics by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,448,121 shares of the aerospace company’s stock worth $27,572,000 after acquiring an additional 23,444 shares during the period. American International Group Inc. raised its position in shares of Astronics by 4.5% in the 1st quarter. American International Group Inc. now owns 13,662 shares of the aerospace company’s stock worth $260,000 after acquiring an additional 589 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Astronics in the 1st quarter worth approximately $31,000. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Astronics by 41.0% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 17,717 shares of the aerospace company’s stock valued at $355,000 after purchasing an additional 5,148 shares in the last quarter. 56.68% of the stock is currently owned by institutional investors.

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.