AeroVironment (NASDAQ:AVAV) Trading Down 1.6% – Here’s What Happened

AeroVironment, Inc. (NASDAQ:AVAVGet Free Report)’s stock price fell 1.6% on Wednesday . The stock traded as low as $139.10 and last traded at $141.22. Approximately 1,303,744 shares were traded during trading, a decline of 23% from the average daily volume of 1,684,432 shares. The stock had previously closed at $143.47.

AeroVironment News Roundup

Here are the key news stories impacting AeroVironment this week:

Wall Street Analysts Forecast Growth

AVAV has been the topic of several analyst reports. Piper Sandler lowered their price objective on AeroVironment from $248.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a report on Wednesday. Canaccord Genuity Group dropped their target price on shares of AeroVironment from $280.00 to $240.00 and set a “buy” rating for the company in a research note on Friday, July 10th. Wolfe Research lowered AeroVironment to a “buy” rating in a research note on Tuesday, June 30th. Finally, Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of AeroVironment in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.68.

Get Our Latest Research Report on AVAV

AeroVironment Trading Down 1.0%

The business’s 50-day moving average price is $168.69 and its 200 day moving average price is $217.35. The company has a market cap of $7.48 billion, a P/E ratio of -40.21, a P/E/G ratio of 2.13 and a beta of 1.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.59 and a current ratio of 4.30.

AeroVironment (NASDAQ:AVAVGet Free Report) last released its quarterly earnings data on Monday, June 29th. The aerospace company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.37. AeroVironment had a positive return on equity of 3.71% and a negative net margin of 9.00%.The firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $555.97 million. During the same quarter in the prior year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was up 133.3% compared to the same quarter last year. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. As a group, analysts expect that AeroVironment, Inc. will post 3.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Stephen F. Page sold 250 shares of AeroVironment stock in a transaction on Monday, June 15th. The stock was sold at an average price of $174.41, for a total transaction of $43,602.50. Following the completion of the sale, the director owned 49,001 shares of the company’s stock, valued at approximately $8,546,264.41. This trade represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AVAV. F m Investments LLC bought a new stake in AeroVironment during the fourth quarter worth about $1,775,000. Norges Bank bought a new position in shares of AeroVironment in the 4th quarter valued at $94,655,000. MYDA Advisors LLC bought a new position in AeroVironment in the fourth quarter valued at about $3,628,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AeroVironment by 92.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,173 shares of the aerospace company’s stock valued at $5,168,000 after buying an additional 9,675 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of AeroVironment by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company’s stock valued at $213,956,000 after acquiring an additional 71,903 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.

About AeroVironment

(Get Free Report)

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.

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