Chardan Capital Markets Starts Astrotech Corporation (ASTC) at Buy
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Chardan Capital Markets initiates coverage on Astrotech Corporation (NASDAQ: ASTC) with a Buy rating and a price target of $5.00.
Analyst James McIlree commented, "We are initiating coverage of Astrotech Corporation with a Buy recommendation and a $5 price target. Astrotech owns three diverse technology companies each with potentially disruptive technology, each addressing large markets and whose total value, we believe, is not reflected in today’s share price. As the company’s technology is developed and monetized, we expect the shares to increase and reflect the value of the company’s portfolio. The company’s market cap is approximately $36 million but with almost $26 million in cash, short-term and liquid long-term investments enterprise value is close to $10 million.
Astrotech’s three portfolio companies are 1st Detect, Astral Images and Astrogenetix. 1st Detect has developed chemical detection and analysis instrumentation for the explosives detection market used at airports, public places and by the military for a variety of applications. Astrogenetix is a biotechnology company using the International Space Station to develop vaccines and is now working on filing an IND for a salmonella vaccine. Astral Images was created to commercialize satellite image correction technologies originally funded by the US government but now targets the media industry."
Shares of Astrotech Corporation closed at $1.70 yesterday.
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Related EntitiesChardan Capital Markets, James McIlree
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