AIRO Group (NASDAQ:AIRO) Shares Gap Down - Time to Sell?

Key Points

• AIRO Group's stock price gapped down from $20.50 to $18.20 before opening on a recent trading day, reflecting an 8.0% decline.
• Despite the recent drop, analysts have a consensus "Buy" rating for AIRO Group, with an average target price set at $30.67.
• Several institutional investors have made significant purchases of AIRO Group shares, highlighting interest in the company amid volatile trading conditions.

AIRO Group Holdings, Inc. (NASDAQ:AIRO - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $20.50, but opened at $18.20. AIRO Group shares last traded at $18.68, with a volume of 771,657 shares changing hands.

Analyst Upgrades and Downgrades

AIRO has been the subject of a number of research analyst reports. Cantor Fitzgerald set a $35.00 price target on AIRO Group and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of AIRO Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Mizuho assumed coverage on shares of AIRO Group in a research report on Tuesday, July 8th. They set an "outperform" rating and a $31.00 price target on the stock. Finally, BTIG Research started coverage on shares of AIRO Group in a research report on Tuesday, July 8th. They issued a "buy" rating and a $26.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, AIRO Group presently has a consensus rating of "Buy" and a consensus price target of $30.67.

AIRO Group Trading Up 1.4%

The firm's 50 day moving average price is $22.54.

AIRO Group (NASDAQ:AIRO - Get Free Report) last announced its earnings results on Wednesday, August 13th. The company reported $0.30 earnings per share for the quarter.

Institutional Investors Weigh In On AIRO Group

Hedge funds have recently made changes to their positions in the company. Ilex Capital Partners UK LLP bought a new position in shares of AIRO Group during the second quarter valued at approximately $18,750,000. HRT Financial LP purchased a new position in AIRO Group in the second quarter valued at $2,507,000. Telligent Fund LP acquired a new stake in shares of AIRO Group during the 2nd quarter valued at about $963,000. Norges Bank purchased a new stake in shares of AIRO Group during the second quarter worth about $481,000. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in AIRO Group during the 2nd quarter valued at about $451,000.

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.