AeroVironment (NASDAQ:AVAV) Shares Gap Down - Should You Sell?

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $272.18, but opened at $265.00. AeroVironment shares last traded at $258.94, with a volume of 388,595 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVAV. Cantor Fitzgerald assumed coverage on shares of AeroVironment in a research report on Tuesday, July 8th. They set an "overweight" rating and a $335.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of AeroVironment in a report on Tuesday, June 24th. They issued a "buy" rating and a $240.00 target price for the company. KeyCorp assumed coverage on shares of AeroVironment in a report on Sunday, June 29th. They issued an "overweight" rating for the company. 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 report on Tuesday, June 24th. Finally, Robert W. Baird raised their target price on shares of AeroVironment from $146.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $268.00.

AeroVironment Stock Performance

The stock has a market cap of $12.98 billion, a P/E ratio of 169.60 and a beta of 0.96. The firm's 50-day moving average is $207.55 and its two-hundred day moving average is $170.37. The company has a quick ratio of 2.69, a current ratio of 3.52 and a debt-to-equity ratio of 0.03.

AeroVironment (NASDAQ:AVAV - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $242.69 million. During the same quarter last year, the firm posted $0.43 earnings per share. The company's quarterly revenue was up 39.6% compared to the same quarter last year. As a group, research analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current year.

Insider Activity

In other AeroVironment news, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the sale, the chief executive officer owned 122,233 shares in the company, valued at $32,153,390.65. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On AeroVironment

Institutional investors have recently bought and sold shares of the business. ORG Partners LLC lifted its position in AeroVironment by 296.0% during the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after buying an additional 74 shares in the last quarter. CoreCap Advisors LLC lifted its position in AeroVironment by 120.2% during the 4th quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company's stock worth $28,000 after buying an additional 101 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in AeroVironment by 171.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company's stock worth $29,000 after buying an additional 154 shares in the last quarter. Colonial Trust Advisors bought a new stake in AeroVironment during the 4th quarter worth about $31,000. Finally, Accredited Wealth Management LLC bought a new stake in AeroVironment during the 4th quarter worth about $31,000. Institutional investors and hedge funds 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.

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