Insider Selling: AIRO Group (NASDAQ:AIRO) Major Shareholder Sells 405,634 Shares of Stock

AIRO Group Holdings, Inc. (NASDAQ:AIRO) major shareholder New Generation Aerospace, Llc sold 405,634 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $17.39, for a total transaction of $7,053,975.26. Following the sale, the insider directly owned 3,650,710 shares of the company’s stock, valued at $63,485,846.90. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

AIRO Group Price Performance

AIRO opened at $19.11 on Thursday. AIRO Group Holdings, Inc. has a twelve month low of $12.90 and a twelve month high of $39.07. The business’s 50-day moving average price is $22.44.

AIRO Group (NASDAQ:AIRO) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.30 earnings per share for the quarter.

Hedge Funds Weigh In On AIRO Group

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of AIRO Group during the 2nd quarter worth approximately $43,000. Bank of America Corp DE bought a new position in shares of AIRO Group during the 2nd quarter worth approximately $60,000. Manchester Capital Management LLC bought a new position in shares of AIRO Group during the 2nd quarter worth approximately $86,000. Newbridge Financial Services Group Inc. bought a new position in shares of AIRO Group in the 2nd quarter worth $91,000. Finally, Creative Planning bought a new position in shares of AIRO Group in the 2nd quarter worth $217,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AIRO shares. BTIG Research started coverage on shares of AIRO Group in a research report on Tuesday, July 8th. They set a “buy” rating and a $26.00 price objective for the company. Wall Street Zen raised AIRO Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Mizuho began coverage on AIRO Group in a research note on Tuesday, July 8th. They set an “outperform” rating and a $31.00 target price for the company. Finally, Cantor Fitzgerald set a $35.00 target price on AIRO Group and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, AIRO Group has an average 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.