AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,290,000 shares, a decline of 5.1% from the October 31st total of 1,360,000 shares. Based on an average daily volume of 363,200 shares, the short-interest ratio is currently 3.6 days.
Analysts Set New Price Targets
A number of research firms have commented on AVAV. Raymond James lowered AeroVironment from an "outperform" rating to a "market perform" rating in a research report on Monday, September 16th. Baird R W raised shares of AeroVironment from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 28th. Royal Bank of Canada dropped their target price on shares of AeroVironment from $230.00 to $215.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. Jefferies Financial Group raised shares of AeroVironment from a "hold" rating to a "buy" rating and cut their target price for the company from $240.00 to $230.00 in a research note on Wednesday, November 20th. Finally, Robert W. Baird raised shares of AeroVironment from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $161.00 to $220.00 in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $211.83.
View Our Latest Research Report on AeroVironment
AeroVironment Stock Down 5.0 %
AVAV traded down $10.09 during midday trading on Tuesday, reaching $193.10. The company's stock had a trading volume of 546,513 shares, compared to its average volume of 341,492. AeroVironment has a 1 year low of $116.51 and a 1 year high of $236.60. The stock's 50-day moving average is $208.88 and its 200-day moving average is $194.36. The firm has a market capitalization of $5.45 billion, a price-to-earnings ratio of 92.62 and a beta of 0.45. The company has a current ratio of 4.26, a quick ratio of 3.04 and a debt-to-equity ratio of 0.01.
AeroVironment (NASDAQ:AVAV - Get Free Report) last posted its quarterly earnings results on Wednesday, September 4th. The aerospace company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.28. AeroVironment had a return on equity of 9.87% and a net margin of 7.82%. The company had revenue of $189.48 million for the quarter, compared to the consensus estimate of $183.18 million. During the same quarter in the prior year, the business posted $1.00 EPS. The firm's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, research analysts expect that AeroVironment will post 3.36 EPS for the current year.
Insiders Place Their Bets
In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 508 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $216.65, for a total transaction of $110,058.20. Following the completion of the sale, the chief financial officer now owns 16,868 shares of the company's stock, valued at $3,654,452.20. This represents a 2.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.27% of the stock is currently owned by insiders.
Institutional Investors Weigh In On AeroVironment
Several institutional investors have recently modified their holdings of the business. Security National Bank purchased a new stake in shares of AeroVironment during the 3rd quarter valued at about $31,000. Canada Pension Plan Investment Board purchased a new stake in AeroVironment in the second quarter worth approximately $36,000. Truvestments Capital LLC bought a new stake in AeroVironment in the 3rd quarter worth approximately $62,000. Avior Wealth Management LLC raised its stake in AeroVironment by 51.0% during the 3rd quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company's stock valued at $79,000 after buying an additional 133 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its position in AeroVironment by 23.1% during the third quarter. Arcadia Investment Management Corp MI now owns 400 shares of the aerospace company's stock valued at $80,000 after acquiring an additional 75 shares during the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.
About AeroVironment
(
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AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.
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