AEVEX (NYSE:AVEX) Reaches New 12-Month Low – Here’s What Happened

AEVEX Corp. (NYSE:AVEX) reached a new 52-week low during trading on Thursday. The company traded as low as $9.59 and last traded at $9.73, with a volume of 475,316 shares. The stock had previously closed at $10.38.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AVEX. Weiss Ratings initiated coverage on AEVEX in a report on Friday, August 14th. They set a “sell (d)” rating for the company. Jefferies Financial Group reissued a “buy” rating on shares of AEVEX in a research report on Thursday, October 22nd. UBS Group set a $13.00 price objective on shares of AEVEX in a research note on Thursday, October 22nd. Oppenheimer assumed coverage on shares of AEVEX in a report on Thursday, October 22nd. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Piper Sandler dropped their target price on shares of AEVEX from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $28.73.

AEVEX Stock Performance

The firm has a market capitalization of $1.04 billion and a price-to-earnings ratio of 28.38. The firm has a fifty day simple moving average of $14.83. The company has a current ratio of 5.66, a quick ratio of 5.50 and a debt-to-equity ratio of 1.15.

AEVEX (NYSE:AVEX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The firm had revenue of $201.79 million during the quarter, compared to analysts’ expectations of $155.15 million. The business’s quarterly revenue was up 99.5% compared to the same quarter last year. Research analysts predict that AEVEX Corp. will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On AEVEX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of AEVEX during the 3rd quarter valued at about $30,000. State of Alaska Department of Revenue purchased a new position in shares of AEVEX during the third quarter valued at approximately $45,000. SBI Securities Co. Ltd. raised its holdings in shares of AEVEX by 157.2% during the third quarter. SBI Securities Co. Ltd. now owns 5,402 shares of the company’s stock valued at $82,000 after purchasing an additional 3,302 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in AEVEX during the third quarter valued at approximately $130,000. Finally, HighTower Advisors LLC bought a new position in AEVEX during the second quarter valued at approximately $269,000.

About AEVEX

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.