AeroVironment (NASDAQ:AVAV) Stock Price Down 1.9% - Here's Why

Key Points

• AeroVironment's stock price decreased by 1.9%, trading at $259.69, with a significant decline in trading volume, reaching 121,551 shares compared to an average of 832,095 shares.
• Analysts generally have a favorable outlook on AeroVironment, with 15 buy ratings and an average price target of $283.55, reflecting confidence in the company's future performance.
• In its latest earnings report, AeroVironment reported $1.61 EPS, exceeding estimates by $0.20, and showing a 39.6% increase in revenue compared to the same quarter last year.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s stock price was down 1.9% during mid-day trading on Wednesday . The company traded as low as $259.06 and last traded at $259.69. Approximately 121,551 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 832,095 shares. The stock had previously closed at $264.75.

Analyst Ratings Changes

Several brokerages recently commented on AVAV. Wall Street Zen upgraded AeroVironment from a "sell" rating to a "hold" rating in a research report on Sunday, June 22nd. Jefferies Financial Group increased their price target on AeroVironment from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. BTIG Research lifted their price objective on shares of AeroVironment from $225.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Cantor Fitzgerald initiated coverage on shares of AeroVironment in a research report on Tuesday, July 8th. They set an "overweight" rating and a $335.00 target price on the stock. Finally, KeyCorp started coverage on shares of AeroVironment in a report on Sunday, June 29th. They issued an "overweight" rating for the company. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AeroVironment presently has an average rating of "Buy" and an average price target of $283.55.

AeroVironment Trading Down 0.4%

The firm has a 50 day moving average price of $231.77 and a 200 day moving average price of $178.98. The stock has a market capitalization of $13.02 billion, a PE ratio of 170.26 and a beta of 0.99. 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 issued its quarterly earnings data on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $275.05 million during the quarter, compared to the consensus estimate of $242.69 million. During the same period in the prior year, the firm posted $0.43 EPS. The firm's quarterly revenue was up 39.6% compared to the same quarter last year. Equities analysts expect that AeroVironment, Inc. will post 3.38 EPS for the current fiscal year.

Insider Activity at AeroVironment

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

Institutional Investors Weigh In On AeroVironment

A number of hedge funds have recently made changes to their positions in the business. Stephens Investment Management Group LLC grew its stake in shares of AeroVironment by 41.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 763,489 shares of the aerospace company's stock worth $91,000,000 after acquiring an additional 221,948 shares during the period. Penserra Capital Management LLC boosted its position in AeroVironment by 35.4% during the first quarter. Penserra Capital Management LLC now owns 17,873 shares of the aerospace company's stock worth $2,130,000 after purchasing an additional 4,669 shares during the period. Stephens Inc. AR boosted its position in AeroVironment by 94.8% during the first quarter. Stephens Inc. AR now owns 4,415 shares of the aerospace company's stock worth $526,000 after purchasing an additional 2,148 shares during the period. Bank of America Corp DE increased its stake in shares of AeroVironment by 17.0% in the fourth quarter. Bank of America Corp DE now owns 45,272 shares of the aerospace company's stock worth $6,967,000 after purchasing an additional 6,589 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of AeroVironment by 415.7% in the fourth quarter. JPMorgan Chase & Co. now owns 198,975 shares of the aerospace company's stock valued at $30,620,000 after purchasing an additional 160,390 shares during the period. 86.38% of the stock is currently owned by institutional investors.

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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