Clear Street Group Inc. Invests $2.02 Million in AeroVironment, Inc. $AVAV

Key Points

• Clear Street Group Inc. opened a new position in AeroVironment during the fourth quarter, buying 8,347 shares worth about $2.02 million.
• Institutional ownership in AeroVironment remains high at 86.38%, and several other hedge funds also increased their holdings in the company last quarter.
• AeroVironment is facing class action lawsuits tied to its reliance on a single-vendor contract, adding legal risk even as analysts maintain a Moderate Buy consensus with a $318.78 average price target.

Clear Street Group Inc. bought a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,347 shares of the aerospace company's stock, valued at approximately $2,019,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment LLC increased its position in shares of AeroVironment by 7.8% during the third quarter. Rothschild Investment LLC now owns 498 shares of the aerospace company's stock worth $157,000 after purchasing an additional 36 shares in the last quarter. Legacy Bridge LLC increased its position in shares of AeroVironment by 1.0% during the fourth quarter. Legacy Bridge LLC now owns 4,046 shares of the aerospace company's stock worth $979,000 after purchasing an additional 39 shares in the last quarter. NewEdge Wealth LLC increased its position in shares of AeroVironment by 1.1% during the fourth quarter. NewEdge Wealth LLC now owns 3,709 shares of the aerospace company's stock worth $897,000 after purchasing an additional 39 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of AeroVironment by 3.7% during the fourth quarter. J.W. Cole Advisors Inc. now owns 1,081 shares of the aerospace company's stock worth $261,000 after purchasing an additional 39 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of AeroVironment by 29.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 188 shares of the aerospace company's stock worth $45,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 86.38% of the company's stock.

AeroVironment Stock Performance

NASDAQ AVAV opened at $170.58 on Monday. The company has a quick ratio of 4.54, a current ratio of 5.51 and a debt-to-equity ratio of 0.17. AeroVironment, Inc. has a 52-week low of $156.00 and a 52-week high of $417.86. The business's 50-day moving average price is $184.20 and its 200 day moving average price is $234.65. The firm has a market cap of $8.52 billion, a P/E ratio of -39.30, a P/E/G ratio of 2.34 and a beta of 1.35.

AeroVironment News Summary

Here are the key news stories impacting AeroVironment this week:

• Negative Sentiment: A class action lawsuit has been filed against AeroVironment and certain officers, with multiple firms encouraging affected shareholders to seek lead-plaintiff status before the July 27 deadline. Pomerantz Law Firm Announces the Filing of a Class Action Against AeroVironment, Inc. and Certain Officers - AVAV
• Negative Sentiment: The lawsuits and alerts allege investor harm tied to AeroVironment’s reliance on a single-vendor bespoke contract, which reportedly became vulnerable when the Space Force shifted toward multi-vendor commercial solutions. AVAV Shareholder Alert: AeroVironment, Inc. Securities Class Action Lawsuit - Investors Should Contact SueWallSt
• Negative Sentiment: Several firms, including Rosen, The Gross Law Firm, Schall, Faruqi & Faruqi, Bragar Eagel & Squire, and DJS Law Group, issued near-identical notices reminding investors of the pending class action and lead-plaintiff deadline, reinforcing legal risk sentiment around the name. ROSEN, GLOBAL INVESTOR COUNSEL, Encourages AeroVironment, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - AVAV

Insider Transactions at AeroVironment

In other AeroVironment news, Director Stephen F. Page sold 250 shares of the business's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $162.31, for a total transaction of $40,577.50. Following the transaction, the director owned 49,251 shares in the company, valued at approximately $7,993,929.81. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.81% of the company's stock.

Analyst Ratings Changes

AVAV has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on AeroVironment in a research report on Tuesday, February 17th. They set an "overweight" rating and a $320.00 target price on the stock. Raymond James Financial upgraded AeroVironment from an "underperform" rating to a "market perform" rating in a research report on Monday, March 23rd. Robert W. Baird cut their target price on AeroVironment from $260.00 to $235.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 11th. UBS Group lowered their price target on AeroVironment from $259.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, March 11th. Finally, Stifel Nicolaus lowered their price target on AeroVironment from $389.00 to $315.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $318.78.

AeroVironment Profile

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.

Want to see what other hedge funds are holding AVAV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AeroVironment, Inc. (NASDAQ:AVAV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.