BlackRock Inc. Invests $9.61 Million in AIRO Group Holdings, Inc. $AIRO

Key Points

• BlackRock acquired a new 4.13% stake in AIRO Group, purchasing 1.3 million shares valued at approximately $9.61 million during the second quarter.
• AIRO’s analyst consensus remains “Hold,” with a $17.33 average price target. Ratings include two Buys, two Holds, and one Sell, while Mizuho lowered its target from $16 to $13 but retained an Outperform rating.
• AIRO shares opened at $7.40, well below their 12-month high of $22.47. The company reported a quarterly loss of $0.06 per share on $43.18 million in revenue, while insiders sold 62,996 shares worth about $508,259 over the past 90 days.

BlackRock Inc. acquired a new stake in AIRO Group Holdings, Inc. (NASDAQ:AIRO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,300,304 shares of the company's stock, valued at approximately $9,609,000. BlackRock Inc. owned approximately 4.13% of AIRO Group as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Leonteq Securities AG acquired a new position in AIRO Group during the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of AIRO Group during the 4th quarter valued at $30,000. Raymond James Financial Inc. acquired a new position in AIRO Group in the second quarter valued at about $43,000. New York State Common Retirement Fund bought a new position in AIRO Group during the 4th quarter worth approximately $43,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of AIRO Group in the 3rd quarter valued at $54,000.

Analyst Upgrades and Downgrades

AIRO has been the topic of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of AIRO Group in a report on Wednesday, August 26th. Wall Street Zen raised AIRO Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, Mizuho cut their target price on shares of AIRO Group from $16.00 to $13.00 and set an "outperform" rating for the company in a research note on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, AIRO Group presently has a consensus rating of "Hold" and a consensus target price of $17.33.

AIRO Group Stock Up 4.5%

Shares of AIRO Group stock opened at $7.40 on Friday. The stock has a market cap of $233.51 million, a price-to-earnings ratio of -8.92 and a beta of 2.02. AIRO Group Holdings, Inc. has a twelve month low of $5.71 and a twelve month high of $22.47. The company's fifty day moving average is $7.53 and its 200 day moving average is $8.17.

AIRO Group (NASDAQ:AIRO - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported ($0.06) EPS for the quarter. The company had revenue of $43.18 million for the quarter. AIRO Group had a negative return on equity of 3.48% and a negative net margin of 23.86%. As a group, equities analysts anticipate that AIRO Group Holdings, Inc. will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO John Uczekaj sold 16,887 shares of the company's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $9.72, for a total value 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 represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Mariya Pylypiv sold 30,028 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $7.66, for a total transaction of $230,014.48. Following the sale, the chief financial officer directly owned 80,188 shares of the company's stock, valued at $614,240.08. This represents a 27.24% decrease in their position. 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. Over the last ninety days, insiders sold 62,996 shares of company stock worth $508,259. 22.90% of the stock is owned by insiders.

AIRO Group 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. 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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