Astrotech Corporation (NASDAQ: ASTC) is a science and technology development and commercialization company. They invent, acquire, and commercialize technological innovations sourced from research institutions, laboratories and internally, and then fund, manage, and build start-up companies for profitable divestiture to market leaders.
ASTC shares jumped as high as 77% in intra-day trading on December 4, 2017 when the company announced a successful demonstration of its 1st Detect’s TRACER 1000 MS-ETD with Department of Homeland Security (DHS) and Transportation Security Administration (TSA) personnel.
December 4, 2017. Astrotech Corporation announced a successful demonstration with Department of Homeland Security (DHS) and Transportation Security Administration (TSA) personnel – 1st Detect’s TRACER 1000 MS-ETD. The TRACER 1000 is a mass spectrometry-based explosives trace detector (ETD), custom-developed for the TSA as an improvement over and replacement for the ion mobility spectrometry (IMS) ETD systems currently deployed at aviation checkpoints worldwide.
Astrotech operates three business units:
1st Detect develops, manufactures, and sells chemical analyzers for use in the airport security, military, food and beverage, and breath analysis markets. Our chemical analyzers can identify chemicals with more accuracy and precision than competing analyzers given their extreme sensitivity and specificity. Leveraging miniature mass spectrometry technology originally developed for NASA to use on the International Space Station, 1st Detect’s series of analyzers enable real-time analytics and are significantly smaller, faster, and less expensive than competing mass analyzers.
Sourced from decades of image research from the laboratories of IBM and Kodak, Astral Images sells film to digital image enhancement, defect removal and color correction software, and post processing services providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K ultra-high definition (UHD), high-dynamic range (HDR) format necessary for the new generation of digital distribution.
As the first commercial biotechnology company to use the unique environment of microgravity to develop novel therapeutic products, Astrogenetix is working on saving lives on Earth by developing products in space. Through expertise gained by sending more than 1,500 NASA science experiments into space, Astrogenetix is exclusively positioned to commercialize products derived from microgravity discoveries.
Astrotech Corporation operates as a science and technology development and commercialization company in the United States. It operates through two segments, Astro Scientific and Astral. The Astro Scientific segment develops, manufactures, and sells chemical analyzers for use in the airport security, military, breath analysis markets, including MMS-1000, a small and low-power desktop analyzer designed for the laboratory market; and OEM-1000, an original equipment manufacturer component that drives the MMS-1000. This segment also develops vaccines and other therapeutics. The Astral segment offers Astral Black ICE, a system targeted mainly towards the black-and-white feature film and television series digitization and restoration markets; Astral Color ICE, a standalone AI software solution that integrates into film scanners to enable color image correction and enhancement; and Astral HDR ICE, high dynamic range solution that upgrades digital and traditional films to the HDR10 standard.
Q1 2018 Financial Review (FYE is June 30th)
1st Detect’s income from research-based, fixed-price, government-related subcontract agreements ended during the last quarter of fiscal 2017. Therefore, there was no revenue or gross profit generated in the first quarter of fiscal 2018, compared to $1.0 million and $275 thousand, respectively, in the first quarter of fiscal 2017. Cash and investments at September 30, 2017 were $11.6 million, and there was no debt.
The company’s book value and cash per share were $4.08/share and $2.90/share respectively.
On Monday, October 16, 2017, the Company effectuated a reverse stock split of its shares of Common Stock whereby every five (5) pre-split shares of Common Stock were exchanged for one (1) post-split share of the Company’s Common Stock. The Company’s authorized Common Stock was reduced from 75 million to 15 million shares.
Stock Influences and Risk Factors
Further market development for the company’s products could be a catalyst,
The company may require additional financing to further its product line,
As of the last earnings release the company was not generating revenue.
On Monday, December 4, 2017, ASTC shares were at $4.27 (+55.84%) on traded volume of 11.8 million shares. The current RSI (14) is 72.27
ASTC shares are trading above their 50-day moving average of $3.53 and below their 200-day moving average of $4.85.
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