AeroVironment (NASDAQ:AVAV) Shares Gap Down - Here's Why

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $284.95, but opened at $263.12. AeroVironment shares last traded at $266.40, with a volume of 577,784 shares changing hands.

Wall Street Analyst Weigh In

AVAV has been the topic of a number of research reports. BTIG Research raised their target price on shares of AeroVironment from $225.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Canaccord Genuity Group reiterated a "buy" rating on shares of AeroVironment in a report on Thursday, June 26th. Wedbush raised shares of AeroVironment to an "outperform" rating in a research report on Wednesday, June 25th. Stifel Nicolaus assumed coverage on shares of AeroVironment in a research report on Tuesday, June 24th. They issued a "buy" rating and a $240.00 price target for the company. Finally, KeyCorp started coverage on shares of AeroVironment in a report on Sunday. They set an "overweight" rating on the stock. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $245.88.

AeroVironment Trading Down 2.7%

The company has a current ratio of 3.52, a quick ratio of 2.69 and a debt-to-equity ratio of 0.03. The firm has a market cap of $6.93 billion, a PE ratio of 158.45 and a beta of 0.95. The business has a fifty day moving average price of $182.02 and a 200 day moving average price of $161.76.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. AeroVironment had a net margin of 5.32% and a return on equity of 10.68%. The company had revenue of $275.05 million for the quarter, compared to the consensus estimate of $242.69 million. During the same period last year, the firm posted $0.43 EPS. AeroVironment's revenue for the quarter was up 39.6% on a year-over-year basis. Analysts forecast that AeroVironment, Inc. will post 3.38 EPS for the current year.

Hedge Funds Weigh In On AeroVironment

Several institutional investors have recently bought and sold shares of AVAV. Alyeska Investment Group L.P. purchased a new position in AeroVironment during the fourth quarter worth about $93,759,000. Ameriprise Financial Inc. grew its holdings in AeroVironment by 281.6% during the first quarter. Ameriprise Financial Inc. now owns 430,307 shares of the aerospace company's stock worth $51,288,000 after acquiring an additional 317,530 shares during the period. Raymond James Financial Inc. acquired a new position in AeroVironment during the fourth quarter worth $46,789,000. Norges Bank purchased a new position in AeroVironment in the fourth quarter worth $37,502,000. Finally, Stephens Investment Management Group LLC lifted its holdings in AeroVironment by 41.0% in the first quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock valued at $91,000,000 after acquiring an additional 221,948 shares during the period. 86.38% of the stock is owned by institutional investors and hedge funds.

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.