Wealthcare Advisory Partners LLC Invests $554,000 in AeroVironment, Inc. $AVAV

Key Points

• Wealthcare Advisory Partners LLC has acquired a new position in AeroVironment, Inc., investing approximately $554,000 for 1,944 shares during the second quarter.
• AeroVironment's stock has received several upgraded price targets from analysts, with Raymond James raising its target from $300.00 to $348.00 and an average target now at $356.07.
• Despite positive earnings of $0.12 per share last quarter, AeroVironment's current P/E ratio stands at -622.32, indicating potential volatility in its stock performance.

Wealthcare Advisory Partners LLC acquired a new position in AeroVironment, Inc. (NASDAQ:AVAV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,944 shares of the aerospace company's stock, valued at approximately $554,000.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC grew its holdings in shares of AeroVironment by 296.0% in the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company's stock worth $27,000 after acquiring an additional 74 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of AeroVironment by 21.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company's stock worth $68,000 after acquiring an additional 42 shares during the last quarter. Spirit of America Management Corp NY acquired a new position in shares of AeroVironment in the 1st quarter worth $36,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of AeroVironment in the 1st quarter worth $40,000. Finally, Signaturefd LLC grew its holdings in shares of AeroVironment by 56.1% in the 1st quarter. Signaturefd LLC now owns 398 shares of the aerospace company's stock worth $47,000 after acquiring an additional 143 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AVAV. Raymond James Financial lifted their target price on AeroVironment from $300.00 to $348.00 and gave the stock a "strong-buy" rating in a report on Monday, September 29th. KeyCorp initiated coverage on AeroVironment in a report on Sunday, June 29th. They set an "overweight" rating on the stock. Citigroup reiterated an "outperform" rating on shares of AeroVironment in a report on Friday, October 3rd. Citizens Jmp initiated coverage on AeroVironment in a report on Monday, August 4th. They set a "strong-buy" rating and a $325.00 price target on the stock. Finally, Zacks Research downgraded AeroVironment from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, AeroVironment currently has an average rating of "Buy" and an average price target of $356.07.

AeroVironment Stock Performance

Shares of AVAV stock opened at $398.29 on Friday. AeroVironment, Inc. has a fifty-two week low of $102.25 and a fifty-two week high of $417.86. The stock's 50-day moving average is $274.70 and its two-hundred day moving average is $217.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.96 and a quick ratio of 5.12. The firm has a market cap of $19.89 billion, a P/E ratio of -622.32, a PEG ratio of 6.91 and a beta of 0.99.

AeroVironment (NASDAQ:AVAV - Get Free Report) last announced its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $132.62 million during the quarter. AeroVironment had a positive return on equity of 4.67% and a negative net margin of 4.14%. Analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the sale, the insider directly owned 4,907 shares in the company, valued at $1,869,567. The trade was a 25.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wahid Nawabi sold 17,300 shares of AeroVironment stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $263.05, for a total value of $4,550,765.00. Following the sale, the chief executive officer owned 122,233 shares of the company's stock, valued at approximately $32,153,390.65. This represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.

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