AeroVironment (NASDAQ:AVAV) Downgraded by StockNews.com to "Sell"

AeroVironment (NASDAQ:AVAV - Get Free Report) was downgraded by research analysts at StockNews.com from a "hold" rating to a "sell" rating in a report issued on Thursday.

A number of other brokerages have also recently weighed in on AVAV. Jefferies Financial Group reduced their price objective on shares of AeroVironment from $230.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Raymond James raised shares of AeroVironment from a "market perform" rating to a "strong-buy" rating and set a $200.00 target price for the company in a research report on Tuesday, April 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $190.00 price target on shares of AeroVironment in a research report on Monday, May 12th. Robert W. Baird dropped their price objective on AeroVironment from $220.00 to $146.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Finally, William Blair restated an "outperform" rating on shares of AeroVironment in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $197.83.

AeroVironment Stock Performance

AeroVironment stock traded down $0.38 during trading hours on Thursday, reaching $166.35. 69,577 shares of the company were exchanged, compared to its average volume of 412,993. AeroVironment has a 12 month low of $102.25 and a 12 month high of $236.60. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average of $142.76 and a 200 day moving average of $161.17. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 95.60 and a beta of 0.80.

Insider Transactions at AeroVironment

In related news, CEO Wahid Nawabi sold 29,366 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $128.20, for a total value 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 approximately $14,765,306.80. This trade represents a 20.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On AeroVironment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its position in shares of AeroVironment by 120.2% in the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after acquiring an additional 101 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of AeroVironment by 171.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock valued at $29,000 after purchasing an additional 154 shares in the last quarter. Golden State Wealth Management LLC bought a new position in AeroVironment in the fourth quarter worth $31,000. Colonial Trust Advisors acquired a new stake in AeroVironment during the fourth quarter worth $31,000. Finally, Accredited Wealth Management LLC acquired a new stake in AeroVironment during the fourth quarter worth $31,000. 86.38% of the stock is currently owned by 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.

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