Begins Coverage on Astrotech (NASDAQ:ASTC) assumed coverage on shares of Astrotech (NASDAQ:ASTCGet Rating) in a research report released on Monday morning. The brokerage issued a sell rating on the aerospace company’s stock.

Astrotech Price Performance

NASDAQ:ASTC opened at $0.34 on Monday. The stock’s 50-day moving average is $0.41 and its two-hundred day moving average is $0.45. The stock has a market cap of $17.21 million, a PE ratio of -1.89 and a beta of -0.64. Astrotech has a fifty-two week low of $0.32 and a fifty-two week high of $0.83.

Astrotech’s stock is set to reverse split before the market opens on Monday, December 5th. The 1-30 reverse split was announced on Monday, December 5th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 5th.

Astrotech (NASDAQ:ASTCGet Rating) last released its earnings results on Wednesday, September 14th. The aerospace company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $0.02 million during the quarter. Astrotech had a negative return on equity of 16.29% and a negative net margin of 1,226.53%.

Insiders Place Their Bets

In other news, major shareholder Braden Michael Leonard purchased 166,434 shares of Astrotech stock in a transaction dated Friday, October 14th. The stock was acquired at an average cost of $0.38 per share, for a total transaction of $63,244.92. Following the acquisition, the insider now directly owns 5,905,845 shares in the company, valued at $2,244,221.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 416,434 shares of company stock valued at $169,745 in the last three months. Insiders own 9.70% of the company’s stock.

Institutional Trading of Astrotech

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Astrotech in the 1st quarter worth $56,000. Marquette Asset Management LLC boosted its stake in Astrotech by 33.0% during the 2nd quarter. Marquette Asset Management LLC now owns 367,864 shares of the aerospace company’s stock valued at $158,000 after purchasing an additional 91,183 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Astrotech by 173.4% in the 3rd quarter. Renaissance Technologies LLC now owns 158,589 shares of the aerospace company’s stock valued at $70,000 after buying an additional 100,589 shares during the last quarter. 6.69% of the stock is currently owned by institutional investors and hedge funds.

Astrotech Company Profile

(Get Rating)

Astrotech Corporation operates as a mass spectrometry company worldwide. It owns and licenses the intellectual property related to the Astrotech Mass Spectrometer Technology, a platform mass spectrometry technology. The company also develops TRACER 1000, a mass spectrometer-based explosive trace detector to replace the explosives trace detectors used at airports, cargo and other secured facilities, and borders.

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