AeroVironment (NASDAQ:AVAV) Cut to "Sell" at Wall Street Zen

Wall Street Zen cut shares of AeroVironment (NASDAQ:AVAV - Free Report) from a hold rating to a sell rating in a research report report published on Thursday.

Other equities analysts have also issued reports about the stock. William Blair restated an "outperform" rating on shares of AeroVironment in a research report on Wednesday, March 5th. Robert W. Baird reduced their target price on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price target on AeroVironment from $230.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $190.00 price objective on shares of AeroVironment in a research report on Monday, May 12th. Finally, Raymond James raised AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 price objective on the stock in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $197.83.

AeroVironment Price Performance

AVAV stock traded up $7.51 during trading on Thursday, hitting $176.58. The company had a trading volume of 289,038 shares, compared to its average volume of 415,870. The company has a fifty day moving average price of $145.35 and a two-hundred day moving average price of $159.25. AeroVironment has a fifty-two week low of $102.25 and a fifty-two week high of $236.60. The company has a market cap of $4.98 billion, a P/E ratio of 101.48 and a beta of 0.80. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02.

Insider Buying and Selling at AeroVironment

In other news, CEO Wahid Nawabi sold 29,366 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at $14,765,306.80. The trade was a 20.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On AeroVironment

Several hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC acquired a new position in AeroVironment during the 1st quarter valued at about $508,000. Fortis Capital Advisors LLC bought a new stake in shares of AeroVironment during the first quarter worth approximately $508,000. Intech Investment Management LLC raised its stake in shares of AeroVironment by 7.3% during the first quarter. Intech Investment Management LLC now owns 37,591 shares of the aerospace company's stock worth $4,480,000 after buying an additional 2,554 shares during the last quarter. United Services Automobile Association bought a new stake in shares of AeroVironment during the first quarter worth approximately $225,000. Finally, Scientech Research LLC lifted its holdings in AeroVironment by 160.7% in the first quarter. Scientech Research LLC now owns 6,561 shares of the aerospace company's stock valued at $782,000 after buying an additional 4,044 shares during the period. 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.