New Generation Aerospace, Llc Sells 405,634 Shares of AIRO Group (NASDAQ:AIRO) Stock

Key Points

• New Generation Aerospace, LLC sold 405,634 shares of AIRO Group, resulting in a 10% decrease in their ownership stake.
• The sale generated over $7 million in total, pricing the shares at an average of $17.39 each.
• Wall Street analysts currently have a consensus target price of $30.67 for AIRO Group, with multiple analysts upgrading their ratings recently.

AIRO Group Holdings, Inc. (NASDAQ:AIRO - Get Free Report) major shareholder New Generation Aerospace, Llc sold 405,634 shares of the business's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $17.39, for a total value of $7,053,975.26. Following the transaction, the insider owned 3,650,710 shares of the company's stock, valued at $63,485,846.90. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

AIRO Group Trading Up 4.1%

Shares of AIRO Group stock traded up $0.78 during trading on Thursday, hitting $19.89. 593,659 shares of the company were exchanged, compared to its average volume of 1,426,509. AIRO Group Holdings, Inc. has a 1-year low of $12.90 and a 1-year high of $39.07. The stock has a fifty day moving average price of $22.39.

AIRO Group (NASDAQ:AIRO - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On AIRO Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ilex Capital Partners UK LLP acquired a new stake in AIRO Group in the 2nd quarter valued at approximately $18,750,000. HRT Financial LP acquired a new stake in AIRO Group in the 2nd quarter valued at approximately $2,507,000. Telligent Fund LP acquired a new stake in AIRO Group in the 2nd quarter valued at approximately $963,000. Norges Bank acquired a new stake in AIRO Group in the 2nd quarter valued at approximately $481,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in AIRO Group in the 2nd quarter valued at approximately $451,000.

Analyst Ratings Changes

Several research firms have recently weighed in on AIRO. Cantor Fitzgerald set a $35.00 price objective on AIRO Group and gave the company an "overweight" rating in a report on Tuesday, July 15th. BTIG Research began coverage on AIRO Group in a report on Tuesday, July 8th. They set a "buy" rating and a $26.00 price objective on the stock. Wall Street Zen upgraded AIRO Group from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Mizuho began coverage on AIRO Group in a report on Tuesday, July 8th. They set an "outperform" rating and a $31.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, AIRO Group presently has a consensus rating of "Buy" and an average price target of $30.67.

About AIRO Group

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.