AeroVironment (NASDAQ:AVAV) Hits New 52-Week Low – Should You Sell?

AeroVironment, Inc. (NASDAQ:AVAV)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $148.02 and last traded at $151.52, with a volume of 262097 shares traded. The stock had previously closed at $153.24.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVAV. William Blair restated an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Robert W. Baird dropped their target price on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 5th. Finally, Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price target for the company in a research note on Tuesday, April 8th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $202.00.

AeroVironment Stock Down 1.1 %

The stock’s 50 day moving average is $135.10 and its 200 day moving average is $166.73. The company has a market capitalization of $4.28 billion, a PE ratio of 87.08 and a beta of 0.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61.

Insiders Place Their Bets

In related news, CEO Wahid Nawabi sold 29,366 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $14,765,306.80. The trade was a 20.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its position in shares of AeroVironment by 149.7% in the third quarter. Barclays PLC now owns 57,245 shares of the aerospace company’s stock valued at $11,477,000 after acquiring an additional 34,318 shares during the period. Tidal Investments LLC boosted its holdings in AeroVironment by 39.6% in the 3rd quarter. Tidal Investments LLC now owns 7,451 shares of the aerospace company’s stock valued at $1,494,000 after purchasing an additional 2,115 shares during the period. Franklin Resources Inc. grew its position in shares of AeroVironment by 299.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock valued at $1,037,000 after purchasing an additional 3,614 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of AeroVironment by 4.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 38,585 shares of the aerospace company’s stock valued at $7,736,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of AeroVironment in the fourth quarter worth $31,000. Institutional investors own 86.38% of the company’s stock.

AeroVironment Company Profile

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.