Astrotech Corporation (ASTC) has lent support to NYSE and NASDAQ listed companies in the industrial goods sector by being one of the best performers during morning trading on September 22. At the lunch break, shares of ASTC have jumped 4.6% to $1.82 after closing the day prior at $1.74. In the first two and a half hours of trading, the stock has gone as high as $1.87 and as low as $1.81. Today’s rise has come with about 7,039 shares changing hands, compared to an average 30-day volume of 86,954 for Astrotech Corporation. The price is currently below the 30-day volume weighted average price of $1.83 for ASTC.
The share appreciation gives the company a market capitalization of $35.93 million based upon 20.65 million shares outstanding. It also means that ASTC has a price-to-book ratio of 1.12:1.
In the past 52 weeks, shares of ASTC have traded as low as $1.05 and as high as $3.15. Technical traders will take note that at $1.82, shares of ASTC are trading above their 200-day MA at $1.69 and above their 50-day MA at $1.75. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is ASTC?
Astrotech Corp acquires & commercializes technologies sourced from research institutions, laboratories, universities & internally, then funds, manages & builds start-up companies for profitable divestiture to market leaders to maximize shareholder value. The company’s 42 employees are led by CEO Thomas Boone Pickens from the corporate headquarters at 5914 W. Courtyard Drive in Austin, TX.
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