AIRO Group (NASDAQ:AIRO) Trading Down 6.9% - Should You Sell?

Key Points

• AIRO Group's share price declined by 6.9% during trading, closing at $17.50, after dipping as low as $17.15.
• Analysts have varied opinions on AIRO Group, with Weiss Ratings maintaining a "sell" rating, while other firms like BTIG Research and Mizuho issued "buy" and "outperform" ratings with target prices of $26.00 and $31.00, respectively.
• Insider transactions reveal significant stock sales, with CEO Joseph D. Burns selling 179,800 shares for over $3.1 million, indicating a potential lack of confidence among company leaders.

AIRO Group Holdings, Inc. (NASDAQ:AIRO - Get Free Report)'s share price was down 6.9% during trading on Friday . The stock traded as low as $17.15 and last traded at $17.50. Approximately 1,861,401 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 1,091,657 shares. The stock had previously closed at $18.80.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AIRO shares. Weiss Ratings reissued a "sell (e-)" rating on shares of AIRO Group in a research note on Wednesday, October 8th. Wall Street Zen raised AIRO Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. BTIG Research began coverage on AIRO Group in a report on Tuesday, July 8th. They issued a "buy" rating and a $26.00 target price for the company. Mizuho began coverage on AIRO Group in a report on Tuesday, July 8th. They issued an "outperform" rating and a $31.00 target price for the company. Finally, Cantor Fitzgerald set a $35.00 target price on AIRO Group and gave the company an "overweight" rating in a report on Tuesday, July 15th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $30.67.

AIRO Group Price Performance

The firm's fifty day moving average is $20.68.

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 for the quarter. The firm had revenue of $24.55 million for the quarter.

Insider Transactions at AIRO Group

In other AIRO Group news, CEO Joseph D. Burns sold 179,800 shares of the stock in a transaction on Friday, September 12th. The stock was sold at an average price of $17.39, for a total transaction of $3,126,722.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Uczekaj sold 2,225 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total value of $38,692.75. Following the transaction, the chief operating officer directly owned 20,030 shares of the company's stock, valued at approximately $348,321.70. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,097,026 shares of company stock valued at $19,077,282 in the last three months.

Hedge Funds Weigh In On AIRO Group

A number of large investors have recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. bought a new position in shares of AIRO Group in the second quarter worth $91,000. HRT Financial LP purchased a new stake in shares of AIRO Group in the second quarter worth $2,507,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of AIRO Group in the second quarter worth $451,000. Bank of America Corp DE purchased a new stake in shares of AIRO Group in the second quarter worth $60,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of AIRO Group in the second quarter worth $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.

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