Applied Aerospace & Defense, Inc. (NYSE:AADX) Sees Large Decline in Short Interest

Key Points

• Short interest fell sharply by 41% to 1.57 million shares as of July 15, representing about 0.9% of AADX’s shares and a 1.5-day short-interest ratio.
• Company insiders bought 58,500 shares worth approximately $1.17 million during the last quarter, including 25,000-share purchases each by the CFO and a director at $20 per share.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $24.62. Shares recently traded at $17.38, near the lower end of their $16.57–$24.24 52-week range.

Applied Aerospace & Defense, Inc. (NYSE:AADX - Get Free Report) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 1,570,969 shares, a decrease of 41.0% from the June 30th total of 2,663,604 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average trading volume of 1,044,595 shares, the short-interest ratio is presently 1.5 days.

Insider Buying and Selling at Applied Aerospace & Defense

In other Applied Aerospace & Defense news, CFO Jeffrey L. Mcrae bought 25,000 shares of the firm's stock in a transaction on Thursday, June 4th. The shares were acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the purchase, the chief financial officer directly owned 25,000 shares of the company's stock, valued at $500,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James C. Katzman bought 25,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were bought at an average price of $20.00 per share, for a total transaction of $500,000.00. Following the completion of the acquisition, the director owned 29,250 shares in the company, valued at approximately $585,000. The trade was a 588.24% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 58,500 shares of company stock worth $1,170,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AADX shares. Morgan Stanley initiated coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued an "equal weight" rating and a $23.00 price objective for the company. Stifel Nicolaus started coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued a "buy" rating and a $24.00 target price on the stock. Zacks Research upgraded shares of Applied Aerospace & Defense to a "hold" rating in a report on Tuesday, June 30th. Bank of America began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set a "buy" rating and a $24.00 price target for the company. Finally, Wolfe Research started coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set an "outperform" rating and a $23.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.62.

Applied Aerospace & Defense Trading Up 0.4%

Shares of NYSE AADX traded up $0.07 during mid-day trading on Thursday, reaching $17.38. 1,125,194 shares of the company's stock were exchanged, compared to its average volume of 1,415,871. The stock's 50-day moving average is $19.60. Applied Aerospace & Defense has a 52-week low of $16.57 and a 52-week high of $24.24.

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