AIRO Group (NASDAQ:AIRO) Trading 1.7% Higher - Here's What Happened

Key Points

• AIRO Group stock rose 1.7% on Friday, trading as high as $7.44 before closing at $7.34, with volume below its average session level.
• Analyst sentiment remains mixed: recent rating changes included a downgrade to sell from Wall Street Zen and an upgrade to hold from Zacks, leaving the consensus rating at Hold with an average price target of $19.67.
• The company reported $0.02 EPS and $48.28 million in quarterly revenue in its latest earnings release, while insiders also sold shares in recent months.

AIRO Group Holdings, Inc. (NASDAQ:AIRO - Get Free Report)'s stock price traded up 1.7% on Friday . The company traded as high as $7.44 and last traded at $7.34. 239,943 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 434,209 shares. The stock had previously closed at $7.22.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen cut AIRO Group from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Zacks Research upgraded AIRO Group to a "hold" rating in a report on Wednesday, April 15th. Finally, BTIG Research reiterated a "neutral" rating on shares of AIRO Group in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, AIRO Group presently has a consensus rating of "Hold" and an average price target of $19.67.

AIRO Group Stock Up 1.7%

The firm has a fifty day moving average of $8.98 and a 200-day moving average of $10.29. The firm has a market cap of $230.77 million and a P/E ratio of 367.00.

AIRO Group (NASDAQ:AIRO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $48.28 million during the quarter. Sell-side analysts anticipate that AIRO Group Holdings, Inc. will post -0.63 EPS for the current year.

Insider Activity

In related news, CFO Mariya Pylypiv sold 20,078 shares of the firm's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $10.26, for a total value of $206,000.28. Following the transaction, the chief financial officer owned 49,887 shares in the company, valued at $511,840.62. This trade represents a 28.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Uczekaj sold 3,415 shares of the firm's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $8.84, for a total value of $30,188.60. Following the completion of the transaction, the chief operating officer owned 20,111 shares in the company, valued at approximately $177,781.24. This represents a 14.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 23,889 shares of company stock worth $240,319.

Hedge Funds Weigh In On AIRO Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in AIRO Group during the third quarter worth about $25,000. Raymond James Financial Inc. bought a new position in AIRO Group during the second quarter worth about $43,000. Bank of America Corp DE bought a new position in AIRO Group during the second quarter worth about $60,000. JPMorgan Chase & Co. bought a new position in AIRO Group during the third quarter worth about $54,000. Finally, Leonteq Securities AG bought a new position in AIRO Group during the fourth quarter worth about $25,000.

About AIRO Group

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. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships.

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