Mizuho Lowers AIRO Group (NASDAQ:AIRO) Price Target to $13.00

Key Points

• Mizuho lowered its price target on AIRO Group to $13 from $16, while keeping an outperform rating. The new target still implies meaningful upside from the stock’s recent close.
• Analyst sentiment is mixed, with the consensus rating at Hold and an average price target of $17.33. Other firms have recently ranged from neutral and hold to sell ratings.
• AIRO Group shares were up 3.8% and recently traded at $6.78, well below their 52-week high of $25.90. The company also reported a quarterly loss and negative margins in its latest earnings release.

AIRO Group (NASDAQ:AIRO - Get Free Report) had its target price reduced by research analysts at Mizuho from $16.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective points to a potential upside of 91.74% from the company's previous close.

AIRO has been the subject of a number of other reports. BTIG Research restated a "neutral" rating on shares of AIRO Group in a research note on Wednesday, April 8th. Zacks Research raised shares of AIRO Group to a "hold" rating in a research report on Wednesday, April 15th. Weiss Ratings restated a "sell (e+)" rating on shares of AIRO Group in a report on Friday, May 29th. Finally, Wall Street Zen raised AIRO Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AIRO Group presently has a consensus rating of "Hold" and an average target price of $17.33.

AIRO Group Trading Up 3.8%

Shares of NASDAQ:AIRO opened at $6.78 on Tuesday. The stock has a market capitalization of $213.23 million and a PE ratio of -14.43. AIRO Group has a 1 year low of $5.71 and a 1 year high of $25.90. The firm has a fifty day moving average price of $7.42 and a 200 day moving average price of $8.90.

AIRO Group (NASDAQ:AIRO - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter. AIRO Group had a negative return on equity of 2.44% and a negative net margin of 19.98%.The company had revenue of $8.90 million during the quarter. On average, sell-side analysts forecast that AIRO Group will post -0.63 earnings per share for the current fiscal year.

Insider Transactions at AIRO Group

In other AIRO Group news, CFO Mariya Pylypiv sold 30,028 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $7.66, for a total value of $230,014.48. Following the sale, the chief financial officer directly owned 80,188 shares in the company, valued at $614,240.08. This trade represents a 27.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 22.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AIRO Group

Several large investors have recently added to or reduced their stakes in the company. Woodline Partners LP increased its position in shares of AIRO Group by 41.0% during the third quarter. Woodline Partners LP now owns 2,753,067 shares of the company's stock valued at $52,859,000 after purchasing an additional 800,456 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of AIRO Group in the 3rd quarter valued at $15,030,000. HighTower Advisors LLC lifted its holdings in shares of AIRO Group by 936.8% during the 4th quarter. HighTower Advisors LLC now owns 666,176 shares of the company's stock worth $5,449,000 after acquiring an additional 601,924 shares during the period. Vanguard Group Inc. boosted its position in shares of AIRO Group by 406.0% during the 3rd quarter. Vanguard Group Inc. now owns 505,951 shares of the company's stock valued at $9,714,000 after acquiring an additional 405,951 shares in the last quarter. Finally, MYDA Advisors LLC acquired a new position in AIRO Group in the fourth quarter worth about $1,963,000.

AIRO Group Company 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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