AeroVironment (NASDAQ:AVAV) Shares Climb 3.2% – Here’s What Happened

Shares of AeroVironment, Inc. (NASDAQ:AVAV) shot up 3.2% during mid-day trading on Wednesday. The company traded as high as $159.50 and last traded at $161.0920. 142,665 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,682,035 shares. The stock had previously closed at $156.15.

Analyst Ratings Changes

Several research firms have weighed in on AVAV. Wolfe Research downgraded AeroVironment to a “buy” rating in a research note on Tuesday, June 30th. BTIG Research restated a “buy” rating and issued a $205.00 price objective on shares of AeroVironment in a research note on Thursday, September 10th. Piper Sandler dropped their target price on AeroVironment from $248.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Citigroup reiterated a “market outperform” rating on shares of AeroVironment in a report on Thursday, September 10th. Finally, Jefferies Financial Group reduced their price target on shares of AeroVironment from $229.00 to $204.00 and set a “buy” rating for the company in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $238.89.

AeroVironment Stock Performance

The firm has a 50-day moving average of $158.53 and a two-hundred day moving average of $173.12. The company has a quick ratio of 3.33, a current ratio of 4.26 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $8.06 billion, a PE ratio of -67.76, a PEG ratio of 2.46 and a beta of 1.41.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Wednesday, September 9th. The aerospace company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.22 by $0.37. The business had revenue of $480.49 million for the quarter, compared to analyst estimates of $451.95 million. AeroVironment had a positive return on equity of 4.04% and a negative net margin of 5.77%.The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. Research analysts anticipate that AeroVironment, Inc. will post 3.25 EPS for the current year.

Insider Buying and Selling at AeroVironment

In other AeroVironment news, CAO Brian Shackley sold 205 shares of AeroVironment stock in a transaction on Friday, August 14th. The shares were sold at an average price of $201.86, for a total value of $41,381.30. Following the completion of the transaction, the chief accounting officer owned 7,888 shares of the company’s stock, valued at approximately $1,592,271.68. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Page sold 250 shares of the company’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $152.27, for a total transaction of $38,067.50. Following the completion of the transaction, the director owned 48,253 shares of the company’s stock, valued at approximately $7,347,484.31. This trade represents a 0.52% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 805 shares of company stock worth $142,671. 0.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On AeroVironment

A number of large investors have recently bought and sold shares of AVAV. Sunbelt Securities Inc. purchased a new stake in shares of AeroVironment in the first quarter valued at approximately $25,000. Hilton Head Capital Partners LLC purchased a new position in shares of AeroVironment during the 4th quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of AeroVironment during the 1st quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. grew its stake in AeroVironment by 90.0% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 133 shares of the aerospace company’s stock valued at $32,000 after acquiring an additional 63 shares during the period. Finally, Toth Financial Advisory Corp acquired a new stake in AeroVironment in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 86.38% of the company’s stock.

About AeroVironment

AeroVironment, Inc is a defense technology company that develops and produces unmanned aircraft systems, loitering munitions, counter-unmanned aircraft systems and related robotic technologies. Its products are designed for intelligence, surveillance and reconnaissance, precision strike, force protection and tactical communications applications.

The company’s portfolio includes the Raven, Puma and Wasp small unmanned aircraft systems; the JUMP 20 vertical takeoff and landing aircraft; and the Switchblade family of loitering munitions.