BTIG Research Issues Pessimistic Forecast for AeroVironment (NASDAQ:AVAV) Stock Price

Key Points

• BTIG Research cut its price target on AeroVironment from $330 to $205, though it kept a buy rating. The new target still implies about 35% upside from the current share price.
• AVAV stock has fallen sharply, opening at $151.33 and sitting near its 1-year low of $150.35, well below its 200-day average of $230.11. The article also notes the stock was down 10.8% on the day.
• Investors are watching several near-term risks and catalysts, including the June 29 Q4 earnings report, an understated Q1 operating loss of $89 million, and ongoing legal/governance concerns such as a securities class action and board resignations.

AeroVironment (NASDAQ:AVAV - Get Free Report) had its target price lowered by stock analysts at BTIG Research from $330.00 to $205.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. BTIG Research's price target would indicate a potential upside of 35.47% from the company's current price.

Several other equities research analysts also recently commented on AVAV. Robert W. Baird reduced their price objective on AeroVironment from $260.00 to $235.00 and set an "outperform" rating for the company in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AeroVironment in a report on Monday, June 8th. Royal Bank Of Canada dropped their price target on shares of AeroVironment from $325.00 to $250.00 and set an "outperform" rating on the stock in a report on Wednesday, March 11th. Piper Sandler decreased their price objective on shares of AeroVironment from $391.00 to $290.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. Finally, Canaccord Genuity Group decreased their price objective on shares of AeroVironment from $330.00 to $300.00 and set a "buy" rating for the company in a report on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $311.83.

AeroVironment Stock Down 10.8%

AVAV stock opened at $151.33 on Tuesday. The stock has a market capitalization of $7.56 billion, a P/E ratio of -34.87, a P/E/G ratio of 2.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.51 and a quick ratio of 4.54. AeroVironment has a 1-year low of $150.35 and a 1-year high of $417.86. The business has a fifty day moving average price of $181.94 and a 200-day moving average price of $230.11.

Insider Transactions at AeroVironment

In other AeroVironment news, Director Stephen F. Page sold 250 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $174.41, for a total transaction of $43,602.50. Following the completion of the sale, the director directly owned 49,001 shares in the company, valued at $8,546,264.41. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 750 shares of company stock valued at $133,502 over the last 90 days. Company insiders own 0.81% of the company's stock.

Institutional Trading of AeroVironment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Groupama Asset Managment bought a new stake in shares of AeroVironment during the 3rd quarter valued at $314,890,000. Geode Capital Management LLC boosted its position in shares of AeroVironment by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company's stock worth $213,956,000 after purchasing an additional 71,903 shares during the period. Heard Capital LLC increased its stake in shares of AeroVironment by 48.4% in the fourth quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company's stock worth $174,681,000 after purchasing an additional 235,685 shares in the last quarter. Van ECK Associates Corp raised its position in shares of AeroVironment by 17.4% during the 3rd quarter. Van ECK Associates Corp now owns 686,273 shares of the aerospace company's stock valued at $216,101,000 after purchasing an additional 101,713 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of AeroVironment by 15.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 614,444 shares of the aerospace company's stock valued at $193,390,000 after buying an additional 83,322 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about AeroVironment

Here are the key news stories impacting AeroVironment this week:

• Positive Sentiment: AeroVironment recently signed an MOU with Ubiqconn Technology to collaborate on uncrewed systems and mission management capabilities, a potentially supportive long-term growth catalyst tied to Taiwan’s defense modernization. AeroVironment (AVAV) Signs MOU with Ubiqconn Technology Inc.
• Neutral Sentiment: The company is set to report Q4 earnings on June 29, and analysts are currently looking for $1.47 in EPS on $559.1 million in revenue, putting a spotlight on execution and guidance. Top Wall Street Forecasters Revamp AeroVironment Expectations Ahead Of Q4 Earnings
• Neutral Sentiment: Several law firms have announced or reminded shareholders about a securities class action and a July 27 lead-plaintiff deadline, keeping legal overhang in focus for AVAV. AeroVironment, Inc. (AVAV) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
• Neutral Sentiment: AeroVironment disclosed that its Q1 loss from operations was understated by $89 million, adding another accounting-related concern for investors. AeroVironment says Q1 loss from operations understated by $89M
• Negative Sentiment: AVAV fell sharply as defense stocks came under pressure from reports of U.S.-Iran peace talks and new Chinese export curbs, which weighed on sentiment across the sector. AeroVironment Stock Dips as U.S.-Iran Peace Talks Continue
• Negative Sentiment: Multiple reports also highlighted a board shakeup after two directors resigned, adding governance uncertainty around the stock. AeroVironment board reshaped as two directors resign

About AeroVironment

AeroVironment, Inc NASDAQ: AVAV is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company's unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.

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