Astronics (NASDAQ:ATRO) Reaches New 52-Week Low – Should You Sell?

Astronics Co. (NASDAQ:ATRO) shares reached a new 52-week low on Tuesday . The company traded as low as $14.13 and last traded at $14.78, with a volume of 1087690 shares traded. The stock had previously closed at $17.61.

Analysts Set New Price Targets

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

Astronics Stock Up 2.4 %

The firm’s 50-day moving average price is $18.65 and its 200 day moving average price is $19.67. The company has a current ratio of 2.83, a quick ratio of 1.46 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $565.57 million, a price-to-earnings ratio of -84.42 and a beta of 1.83.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of Astronics in the 2nd quarter valued at $857,000. Black Swift Group LLC bought a new position in Astronics in the third quarter valued at about $756,000. First Eagle Investment Management LLC raised its stake in Astronics by 8.5% during the second quarter. First Eagle Investment Management LLC now owns 391,426 shares of the aerospace company’s stock worth $7,840,000 after acquiring an additional 30,550 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Astronics by 115.4% in the third quarter. SG Americas Securities LLC now owns 11,387 shares of the aerospace company’s stock worth $222,000 after acquiring an additional 6,101 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Astronics by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 888,942 shares of the aerospace company’s stock valued at $17,806,000 after purchasing an additional 40,438 shares in the last quarter. 56.68% of the stock is currently 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.