AEVEX Corp. (NYSE:AVEX) Short Interest Update

Key Points

• Short interest in AEVEX Corp. surged in June, rising 274.7% to 3.5 million shares as of June 30. That puts about 3.1% of the company’s shares sold short, with a days-to-cover ratio of 1.2.
• Insiders were buying shares over the past 90 days, including CFO Todd Booth and Director Brian Raduenz. In total, insiders purchased 74,150 shares worth about $1.48 million.
• Analysts remain mostly positive on the stock, with nine Buy ratings and one Hold, giving AEVEX a consensus “Moderate Buy” rating and an average target price of $35.62. Despite that, the stock recently fell 3.6% to $15.87, near its 52-week low of $15.07.

AEVEX Corp. (NYSE:AVEX - Get Free Report) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 3,500,519 shares, an increase of 274.7% from the June 15th total of 934,262 shares. Based on an average trading volume of 2,932,643 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.1% of the shares of the company are sold short.

Insider Activity

In other news, CFO Todd Booth purchased 13,000 shares of the stock in a transaction dated Thursday, April 16th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $260,000.00. Following the completion of the transaction, the chief financial officer owned 13,000 shares of the company's stock, valued at approximately $260,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Raduenz acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, April 16th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $1,000,000.00. Following the acquisition, the director owned 50,000 shares in the company, valued at approximately $1,000,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 74,150 shares of company stock worth $1,483,000 over the last ninety days.

Analyst Upgrades and Downgrades

Several research firms have commented on AVEX. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of AEVEX in a research report on Thursday, May 21st. Bank of America began coverage on AEVEX in a report on Tuesday, May 12th. They set a "buy" rating and a $34.00 price target on the stock. Zacks Research raised AEVEX to a "hold" rating in a report on Wednesday, May 13th. Raymond James Financial initiated coverage on AEVEX in a research report on Tuesday, May 12th. They issued an "outperform" rating and a $35.00 target price on the stock. Finally, Robert W. Baird assumed coverage on AEVEX in a research note on Tuesday, May 12th. They set an "outperform" rating and a $38.00 target price on the stock. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, AEVEX has an average rating of "Moderate Buy" and a consensus target price of $35.62.

AEVEX Stock Down 3.6%

AVEX stock traded down $0.59 during trading on Monday, hitting $15.87. The company had a trading volume of 1,726,815 shares, compared to its average volume of 2,678,020. The company has a market capitalization of $1.81 billion and a price-to-earnings ratio of 63.48. The firm has a 50 day moving average price of $23.42. AEVEX has a fifty-two week low of $15.07 and a fifty-two week high of $42.34.

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