AIRO Group (NASDAQ:AIRO) Shares Gap Up - Here's Why

Key Points

• AIRO Group Holdings, Inc. (NASDAQ:AIRO) shares experienced a gap up from $20.55 to $21.75 before closing at $20.77, indicating volatility in trading volumes of 178,045 shares.
• The stock has received multiple positive ratings from analysts, including an "outperform" rating with a price target of $31.00 from Mizuho and a "buy" rating with a target price of $26.00 from BTIG Research.
• AIRO Group reported an earnings per share (EPS) of $0.30 in its latest quarterly announcement, with hedge fund investments significantly increasing during the second quarter.

AIRO Group Holdings, Inc. (NASDAQ:AIRO - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $20.55, but opened at $21.75. AIRO Group shares last traded at $20.77, with a volume of 178,045 shares.

Analyst Ratings Changes

Several research analysts recently weighed in on AIRO shares. Wall Street Zen upgraded AIRO Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. BTIG Research initiated coverage on shares of AIRO Group in a research note on Tuesday, July 8th. They set a "buy" rating and a $26.00 price objective for the company. Cantor Fitzgerald set a $35.00 target price on AIRO Group and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Finally, Mizuho began coverage on AIRO Group in a report on Tuesday, July 8th. They issued an "outperform" rating and a $31.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AIRO Group has an average rating of "Buy" and an average price target of $30.67.

AIRO Group Stock Down 0.7%

The company's 50 day moving average price is $22.79.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of AIRO Group in the second quarter worth $91,000. HRT Financial LP acquired a new position in AIRO Group in the second quarter worth about $2,507,000. Gilder Gagnon Howe & Co. LLC bought a new stake in AIRO Group in the second quarter valued at about $451,000. Bank of America Corp DE acquired a new stake in AIRO Group during the second quarter valued at approximately $60,000. Finally, Raymond James Financial Inc. bought a new position in AIRO Group during the 2nd quarter worth approximately $43,000.

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.