Astronics (NASDAQ:ATRO) Shares Gap Up – Should You Buy?

Astronics Co. (NASDAQ:ATRO) gapped up before the market opened on Friday . The stock had previously closed at $18.78, but opened at $19.65. Astronics shares last traded at $19.63, with a volume of 111,996 shares.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. StockNews.com raised shares of Astronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th. Truist Financial decreased their target price on shares of Astronics from $20.00 to $17.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th.

Astronics Trading Up 6.7 %

The company has a market cap of $706.26 million, a P/E ratio of -106.42 and a beta of 1.79. 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 firm has a 50-day moving average of $17.04 and a 200 day moving average of $18.17.

Institutional Trading of Astronics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio grew its stake in shares of Astronics by 167.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 4,156 shares of the aerospace company’s stock worth $66,000 after acquiring an additional 2,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Astronics by 75.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,687 shares of the aerospace company’s stock worth $937,000 after purchasing an additional 25,146 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Astronics during the 4th quarter worth approximately $1,022,000. Two Sigma Advisers LP boosted its stake in shares of Astronics by 85.8% in the 4th quarter. Two Sigma Advisers LP now owns 99,400 shares of the aerospace company’s stock worth $1,586,000 after buying an additional 45,900 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Astronics by 159.1% during the fourth quarter. Two Sigma Investments LP now owns 177,148 shares of the aerospace company’s stock worth $2,827,000 after purchasing an additional 108,769 shares during the period. 56.68% of the stock is owned by hedge funds and other 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.