AeroVironment (NASDAQ:AVAV) Stock Price Down 5.6% - Here's What Happened

Shares of AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) were down 5.6% during trading on Wednesday . The stock traded as low as $168.80 and last traded at $169.35. Approximately 223,255 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 333,794 shares. The stock had previously closed at $179.35.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AVAV shares. William Blair reaffirmed an "outperform" rating on shares of AeroVironment in a report on Thursday, December 5th. Jefferies Financial Group raised shares of AeroVironment from a "hold" rating to a "buy" rating and decreased their price target for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $225.20.

AeroVironment Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The stock has a market cap of $4.43 billion, a P/E ratio of 90.22 and a beta of 0.52. The company's 50 day moving average price is $166.63 and its 200-day moving average price is $186.39.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates of $0.76 by ($0.29). The company had revenue of $188.46 million during the quarter, compared to analysts' expectations of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. AeroVironment's quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Equities analysts forecast that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the sale, the chief financial officer now directly owns 16,472 shares of the company's stock, valued at $3,273,480.56. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.27% of the stock is owned by insiders.

Institutional Investors Weigh In On AeroVironment

A number of institutional investors and hedge funds have recently modified their holdings of AVAV. NBC Securities Inc. lifted its holdings in shares of AeroVironment by 47.4% in the third quarter. NBC Securities Inc. now owns 432 shares of the aerospace company's stock worth $86,000 after buying an additional 139 shares in the last quarter. Veracity Capital LLC increased its position in shares of AeroVironment by 13.0% in the third quarter. Veracity Capital LLC now owns 4,318 shares of the aerospace company's stock worth $866,000 after purchasing an additional 496 shares during the last quarter. DMC Group LLC increased its position in shares of AeroVironment by 18.0% in the third quarter. DMC Group LLC now owns 2,198 shares of the aerospace company's stock worth $441,000 after purchasing an additional 335 shares during the last quarter. Kennedy Investment Group bought a new position in shares of AeroVironment in the third quarter worth approximately $289,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of AeroVironment in the third quarter worth approximately $271,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

About AeroVironment

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.