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Astrotech Corp - ASTC STOCK NEWS

Welcome to our dedicated news page for Astrotech (Ticker: ASTC), a resource for investors and traders seeking the latest updates and insights on Astrotech.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Astrotech's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Astrotech's position in the market.

Rhea-AI Summary
Astrotech Corporation (ASTC) reports robust financial results for Q2 FY 2024, showing a 512% revenue increase and a strong balance sheet. The company's gross margin improved to 46%, driven by successful product deliveries and ongoing research and development efforts. Recent developments include reentry into TSA testing and the launch of Pro-Control, focusing on chemical manufacturing applications.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.49%
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earnings
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Rhea-AI Summary
Astrotech Corporation (NASDAQ:ASTC) forms Pro-Control, Inc., a subsidiary with an exclusive license to use ATi Mass Spectrometer Technology for chemical manufacturing process control applications. Pro-Control introduces Pro-Control Maximum Value ProcessTM and Pro-Control-1000TM mass spectrometer to improve yields, potency, purity, and weight in chemical manufacturing processes, targeting various chemical markets. CEO/CTO Tom Pickens anticipates over 30% increase in yields, aiming to tap into the global chemical manufacturing and tolling markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.2%
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Rhea-AI Summary
Astrotech Corporation (ASTC) and its subsidiary AgLAB, Inc. present the AgLAB Maximum Value Process™ (MVPTM) at MJBizCon, unveiling a revolutionary process control system proven to increase revenue by an average of 32%. The MVPTM uses proprietary technology to provide real-time data and feedback, enabling distillers to optimize the quality and quantity of each batch of oil, resulting in higher potencies, better color, and a significant increase in yield. The technology will be showcased at MJBizCon, the leading global hemp and cannabis business conference and tradeshow.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.23%
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none
Rhea-AI Summary
Astrotech Corporation (Nasdaq: ASTC) reported strong financial results for the first quarter of fiscal year 2024, with $39 million in cash and liquid investments to support research, development, and potential acquisitions. Revenue increased to $425 thousand, driven by ongoing fulfillment of an order for the TRACER 1000™ explosives trace detector to a Romania-based company. Gross margin improved to 43%, and production and sales efforts for the AgLAB 1000-D2™ and 1st Detect's TRACER 1000 are progressing well.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.83%
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earnings
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Rhea-AI Summary
Astrotech Corporation (NASDAQ: ASTC) announced that its 1st Detect subsidiary has accepted a significant purchase order for seven TRACER 1000™ explosives trace detectors for an airport security checkpoint in Romania. The TRACER 1000, utilizing Astrotech Mass Spectrometer Technology™, offers near-zero false alarm rates, improving checkpoint efficiency and passenger throughput. This breakthrough technology has received ECAC certification for both checkpoint and cargo security, making it a cost-effective, small, and easy-to-use solution for chemical detection in airport security.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.06%
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Rhea-AI Summary
Astrotech Corporation reported strong financial results for the fiscal year ended June 30, 2023. The company's consolidated balance sheet shows $42.1 million in cash and cash equivalents, supporting research, development, and potential acquisitions. Gross margin increased to 41% due to higher recurring revenue. 1st Detect subsidiary generated $750 thousand in total revenue and secured an order for 17 Tracer 1000 units. AgLAB subsidiary improved hemp and cannabis distillation yields by an average of 30%. The company regained compliance with the minimum bid price requirement of $1.00 per share for continued listing on Nasdaq.
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0.69%
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earnings
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acquisition
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Rhea-AI Summary
Astrotech Corporation has received an unsolicited proposal from BML Investment Partners to acquire all outstanding shares for $17.25 per share. The proposal is subject to limited due diligence and cash requirements.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.23%
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acquisition
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.06%
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earnings
Rhea-AI Summary
Astrotech Corporation's subsidiary, AgLAB, Inc., has confirmed successful results from field trials using the AgLAB 1000-D2 mass spectrometer and the Maximum Value Process testing method (AgLAB MVP). The solution is designed to improve yields and profits for CBD and THC oil processors. During the trials, ending-weight yields were improved by an average of 30%, increasing customer profitability.
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Rhea-AI Sentiment
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-0.63%
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Astrotech Corp

Nasdaq:ASTC

ASTC Rankings

ASTC Stock Data

12.93M
1.21M
11.73%
24.6%
0.89%
Engineering Services
Professional, Scientific, and Technical Services
Link
United States
Austin

About ASTC

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