Mizuho Issues Pessimistic Forecast for AIRO Group (NASDAQ:AIRO) Stock Price

Key Points

• Mizuho lowered AIRO Group’s price target from $13 to $11 but maintained an “outperform” rating, implying roughly 103% upside from the prior close. The broader analyst consensus is “Hold,” with a $16.67 target.
• AIRO shares fell 4.2% to open at $5.43, near their 12-month low of $5.41 and well below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.06 per share on $43.18 million in revenue.
• Insiders sold 32,814 shares worth $277,049 over the past 90 days, though the reported transactions were to cover tax obligations from vested equity awards. Institutional interest increased, including BlackRock’s new position valued at approximately $9.6 million.

AIRO Group (NASDAQ:AIRO - Get Free Report) had its price target dropped by equities researchers at Mizuho from $13.00 to $11.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Mizuho's price target indicates a potential upside of 102.58% from the stock's previous close.

AIRO has been the subject of a number of other reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of AIRO Group in a research note on Wednesday, August 26th. Wall Street Zen upgraded AIRO Group from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, AIRO Group has a consensus rating of "Hold" and a consensus price target of $16.67.

AIRO Group Trading Down 4.2%

Shares of AIRO stock opened at $5.43 on Thursday. AIRO Group has a 12-month low of $5.41 and a 12-month high of $22.47. The business's fifty day simple moving average is $7.44 and its 200-day simple moving average is $7.54. The company has a market cap of $171.35 million, a PE ratio of -6.54 and a beta of 2.06.

AIRO Group (NASDAQ:AIRO - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share for the quarter. AIRO Group had a negative return on equity of 3.48% and a negative net margin of 23.86%. The business had revenue of $43.18 million during the quarter. On average, equities analysts forecast that AIRO Group will post -1.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mariya Pylypiv sold 8,697 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $7.08, for a total transaction of $61,574.76. Following the sale, the chief financial officer directly owned 267,333 shares of the company's stock, valued at $1,892,717.64. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Uczekaj sold 16,887 shares of the business's stock in a transaction on Friday, August 14th. The shares were sold at an average price of $9.72, for a total transaction of $164,141.64. Following the sale, the chief operating officer directly owned 221,572 shares in the company, valued at $2,153,679.84. This trade represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 32,814 shares of company stock valued at $277,049. Corporate insiders own 22.90% of the company's stock.

Hedge Funds Weigh In On AIRO Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIRO. BlackRock Inc. acquired a new position in shares of AIRO Group in the second quarter valued at about $9,609,000. Bank of America Corp DE raised its stake in shares of AIRO Group by 35.4% in the first quarter. Bank of America Corp DE now owns 225,830 shares of the company's stock worth $1,717,000 after purchasing an additional 59,025 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of AIRO Group by 373.3% during the first quarter. Royal Bank of Canada now owns 63,803 shares of the company's stock worth $485,000 after purchasing an additional 50,322 shares during the period. First Trust Advisors LP lifted its holdings in shares of AIRO Group by 6.2% during the first quarter. First Trust Advisors LP now owns 59,580 shares of the company's stock worth $453,000 after purchasing an additional 3,493 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of AIRO Group during the second quarter worth about $435,000.

AIRO Group Company Profile

AIRO Group NASDAQ: AIRO is an aviation, aerospace and defense company that develops and provides technologies for crewed and uncrewed aircraft. Its business activities span drones and robotics, advanced air mobility, avionics and aviation training.

The company's drone and robotics operations focus on unmanned aerial systems and related solutions for commercial, public-sector and defense applications. Its advanced air mobility business is developing electric vertical takeoff and landing aircraft, while its avionics operations provide aircraft electronics and flight-related systems.

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