Shares of CPI Aerostructures, Inc. (NYSEAMERICAN:CVU) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.00 and traded as high as $7.95. CPI Aerostructures shares last traded at $7.80, with a volume of 1,303 shares trading hands.
CPI Aerostructures (NYSEAMERICAN:CVU) last released its earnings results on Wednesday, August 7th. The aerospace company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The company had revenue of $23.16 million for the quarter.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CVU. Morgan Stanley lifted its stake in shares of CPI Aerostructures by 61.0% during the 2nd quarter. Morgan Stanley now owns 45,876 shares of the aerospace company’s stock valued at $386,000 after buying an additional 17,384 shares in the last quarter. BlackRock Inc. lifted its stake in CPI Aerostructures by 108.2% in the 2nd quarter. BlackRock Inc. now owns 68,673 shares of the aerospace company’s stock worth $578,000 after purchasing an additional 35,693 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in CPI Aerostructures in the 2nd quarter worth $861,000. Heartland Advisors Inc. lifted its stake in CPI Aerostructures by 11.2% in the 2nd quarter. Heartland Advisors Inc. now owns 528,300 shares of the aerospace company’s stock worth $4,443,000 after purchasing an additional 53,300 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in CPI Aerostructures by 6.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 648,181 shares of the aerospace company’s stock worth $5,449,000 after purchasing an additional 36,777 shares in the last quarter.
CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. The company also offers aero systems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.
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