AeroVironment (NASDAQ:AVAV) Stock Price Down 3.2% - Time to Sell?

Key Points

• AeroVironment's stock declined by 3.2% to $259.12, with trading volume significantly lower than average, signaling potential investor concerns.
• Analysts are generally optimistic, with thirteen rating the stock as a buy and a price target averaging $268.00, while Royal Bank Of Canada set a target of $300.00.
• CEO Wahid Nawabi recently sold 17,300 shares for approximately $4.55 million, reducing his ownership by 12.40%, sparking questions about insider confidence.

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report) was down 3.2% on Friday . The company traded as low as $251.34 and last traded at $259.12. Approximately 355,113 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 833,089 shares. The stock had previously closed at $267.64.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AVAV shares. Wall Street Zen raised shares of AeroVironment from a "sell" rating to a "hold" rating in a research note on Sunday, June 22nd. William Blair started coverage on shares of AeroVironment in a report on Sunday, June 29th. They set an "outperform" rating for the company. KeyCorp initiated coverage on shares of AeroVironment in a research note on Sunday, June 29th. They issued an "overweight" rating for the company. Royal Bank Of Canada raised their price target on shares of AeroVironment from $275.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Finally, Cantor Fitzgerald started 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. One research 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $268.00.

AeroVironment Stock Down 2.6%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 3.52. The firm has a market cap of $12.86 billion, a P/E ratio of 168.26 and a beta of 0.96. The stock's 50 day simple moving average is $226.24 and its 200 day simple moving average is $176.88.

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

Insiders Place Their Bets

In other AeroVironment news, CEO Wahid Nawabi sold 17,300 shares of the company's stock in a transaction dated 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 directly owned 122,233 shares of the company's stock, valued at $32,153,390.65. This represents 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 available through this link. Insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On AeroVironment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in AeroVironment by 21.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company's stock valued at $68,000 after purchasing an additional 42 shares during the period. Bessemer Group Inc. increased its position in AeroVironment by 60.3% during the 2nd quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company's stock valued at $33,000 after purchasing an additional 44 shares during the period. Redwood Investments LLC increased its position in AeroVironment by 0.7% during the 4th quarter. Redwood Investments LLC now owns 9,273 shares of the aerospace company's stock valued at $1,427,000 after purchasing an additional 66 shares during the period. Portside Wealth Group LLC increased its position in AeroVironment by 4.3% during the 1st quarter. Portside Wealth Group LLC now owns 1,741 shares of the aerospace company's stock valued at $208,000 after purchasing an additional 71 shares during the period. Finally, ORG Partners LLC increased its position in AeroVironment by 296.0% during the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock valued at $27,000 after purchasing an additional 74 shares during the period. 86.38% of the stock is owned by hedge funds and other 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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