AeroVironment (NASDAQ:AVAV) Trading Down 3.2% - Here's Why

AeroVironment, Inc. (NASDAQ:AVAV - Get Free Report)'s share price dropped 3.2% during trading on Tuesday . The company traded as low as $256.45 and last traded at $263.43. Approximately 610,398 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 630,046 shares. The stock had previously closed at $272.18.

Analyst Upgrades and Downgrades

AVAV has been the subject of a number of research reports. Oppenheimer reaffirmed an "outperform" rating on shares of AeroVironment in a report on Sunday, June 29th. The Goldman Sachs Group assumed coverage on shares of AeroVironment in a report on Monday, June 30th. They issued a "buy" rating and a $301.00 price objective for the company. Royal Bank Of Canada raised their target price on AeroVironment from $275.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. William Blair assumed coverage on AeroVironment in a research note on Sunday, June 29th. They issued an "outperform" rating on the stock. Finally, Wedbush upgraded AeroVironment to an "outperform" rating in a research note on Wednesday, June 25th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $268.00.

AeroVironment Price Performance

The stock has a 50 day moving average of $218.04 and a two-hundred day moving average of $173.98. The stock has a market cap of $13.46 billion, a PE ratio of 176.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.69 and a current ratio of 3.52.

AeroVironment (NASDAQ:AVAV - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The aerospace company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. AeroVironment had a return on equity of 10.68% and a net margin of 5.32%. The firm had revenue of $275.05 million for the quarter, compared to analysts' expectations of $242.69 million. During the same quarter last year, the business posted $0.43 EPS. AeroVironment's revenue was up 39.6% on a year-over-year basis. Equities 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 AeroVironment stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $263.05, for a total transaction of $4,550,765.00. Following the transaction, the chief executive officer owned 122,233 shares of the company's stock, valued at $32,153,390.65. The trade was a 12.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AeroVironment

Several institutional investors and hedge funds have recently bought and sold shares of AVAV. ORG Partners LLC lifted its holdings in AeroVironment by 296.0% in the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after purchasing an additional 74 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in AeroVironment in the 2nd quarter worth approximately $28,000. CoreCap Advisors LLC lifted its holdings in 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 purchasing an additional 101 shares during the last quarter. Colonial Trust Advisors acquired a new stake in AeroVironment in the 4th quarter worth approximately $31,000. Finally, Accredited Wealth Management LLC acquired a new stake in AeroVironment in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 86.38% of the company's stock.

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.