AIRO Group Holdings, Inc. (NASDAQ:AIRO) Sees Significant Increase in Short Interest

Key Points

• AIRO Group Holdings, Inc. saw a 238.9% increase in short interest in September, bringing the total to 1,760,000 shares by September 30th.
• Equity analysts have set a consensus target price of $30.67 for AIRO shares, with ratings such as "buy" and "outperform" being issued by multiple firms.
• Insider sales included COO John Uczekaj and CEO Joseph D. Burns, who sold shares totaling over $3.1 million on September 12th, resulting in a 10% decrease in their ownership stakes.

AIRO Group Holdings, Inc. (NASDAQ:AIRO - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 1,760,000 shares, a growth of 238.9% from the September 15th total of 519,300 shares. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 8.8% of the shares of the stock are sold short. Currently, 8.8% of the shares of the stock are sold short. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is currently 1.7 days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AIRO shares. Wall Street Zen upgraded AIRO Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. BTIG Research started coverage on shares of AIRO Group in a research note on Tuesday, July 8th. They issued a "buy" rating and a $26.00 price target for the company. Mizuho started coverage on shares of AIRO Group in a research note on Tuesday, July 8th. They issued an "outperform" rating and a $31.00 price target for the company. Cantor Fitzgerald set a $35.00 price target on shares of AIRO Group and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Weiss Ratings reiterated a "sell (e-)" rating on shares of AIRO Group in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, AIRO Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.67.

Insider Transactions at AIRO Group

In other news, COO John Uczekaj sold 2,225 shares of the company's stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $38,692.75. Following the completion of the sale, the chief operating officer owned 20,030 shares of the company's stock, valued at $348,321.70. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joseph D. Burns sold 179,800 shares of the company's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $3,126,722.00. Following the sale, the chief executive officer directly owned 1,618,202 shares of the company's stock, valued at approximately $28,140,532.78. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,097,026 shares of company stock valued at $19,077,282 over the last ninety days.

Institutional Trading of AIRO Group

A number of institutional investors have recently bought and sold shares of AIRO. Raymond James Financial Inc. acquired a new position in AIRO Group in the second quarter valued at approximately $43,000. Bank of America Corp DE purchased a new stake in AIRO Group in the second quarter valued at $60,000. Manchester Capital Management LLC purchased a new stake in AIRO Group in the second quarter valued at $86,000. Newbridge Financial Services Group Inc. purchased a new stake in AIRO Group in the second quarter valued at $91,000. Finally, Creative Planning purchased a new stake in AIRO Group in the second quarter valued at $217,000.

AIRO Group Stock Down 6.9%

NASDAQ AIRO opened at $17.50 on Friday. The company has a 50 day simple moving average of $20.68. AIRO Group has a one year low of $12.90 and a one year high of $39.07.

AIRO Group (NASDAQ:AIRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.30 EPS for the quarter. The business had revenue of $24.55 million during the quarter.

AIRO Group Company Profile

We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market.

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