AeroVironment (NASDAQ:AVAV) Stock Price Up 1.6% – Here’s What Happened

Shares of AeroVironment, Inc. (NASDAQ:AVAV) shot up 1.6% during trading on Monday . The company traded as high as $282.03 and last traded at $276.99. 682,919 shares traded hands during trading, a decline of 24% from the average session volume of 898,773 shares. The stock had previously closed at $272.54.

Wall Street Analyst Weigh In

AVAV has been the topic of a number of recent research reports. Raymond James Financial upped their target price on shares of AeroVironment from $300.00 to $348.00 and gave the stock a “strong-buy” rating in a research report on Monday, September 29th. Citigroup reissued an “outperform” rating on shares of AeroVironment in a research note on Friday, October 3rd. The Goldman Sachs Group upped their price objective on shares of AeroVironment from $300.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Tuesday, September 16th. Finally, Piper Sandler initiated coverage on AeroVironment in a research report on Thursday. They issued an “overweight” rating and a $391.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $358.19.

AeroVironment Stock Up 1.6%

The company has a market capitalization of $13.83 billion, a PE ratio of -432.79, a P/E/G ratio of 5.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 5.12 and a current ratio of 5.96. The company’s 50-day moving average is $337.99 and its 200 day moving average is $265.60.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $132.62 million during the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. As a group, analysts anticipate that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Trace E. Stevenson sold 1,717 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the transaction, the insider directly owned 4,907 shares of the company’s stock, valued at approximately $1,869,567. This represents a 25.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 998 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $399.74, for a total transaction of $398,940.52. Following the sale, the chief financial officer directly owned 19,324 shares in the company, valued at approximately $7,724,575.76. The trade was a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,228 shares of company stock valued at $1,223,157. 0.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On AeroVironment

A number of large investors have recently added to or reduced their stakes in AVAV. US Bancorp DE increased its holdings in AeroVironment by 13.5% during the second quarter. US Bancorp DE now owns 8,068 shares of the aerospace company’s stock valued at $2,299,000 after buying an additional 961 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of AeroVironment during the 2nd quarter valued at $273,000. Twin Tree Management LP bought a new stake in shares of AeroVironment during the 2nd quarter valued at $697,000. Semanteon Capital Management LP purchased a new stake in shares of AeroVironment in the 2nd quarter worth $874,000. Finally, James Investment Research Inc. bought a new position in AeroVironment in the 2nd quarter worth $485,000. Institutional investors own 86.38% of the company’s stock.

AeroVironment Company Profile

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.