MYDA Advisors LLC Makes New Investment in AIRO Group Holdings, Inc. $AIRO

MYDA Advisors LLC acquired a new position in shares of AIRO Group Holdings, Inc. (NASDAQ:AIRO) during the 4th quarter, Holdings Channel.com reports. The fund acquired 240,000 shares of the company’s stock, valued at approximately $1,963,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AIRO. Leonteq Securities AG purchased a new stake in shares of AIRO Group in the fourth quarter valued at about $25,000. New York State Common Retirement Fund purchased a new stake in shares of AIRO Group in the fourth quarter valued at about $43,000. Raymond James Financial Inc. purchased a new stake in shares of AIRO Group in the second quarter valued at about $43,000. JPMorgan Chase & Co. purchased a new stake in shares of AIRO Group in the third quarter valued at about $54,000. Finally, Bank of America Corp DE purchased a new stake in shares of AIRO Group in the second quarter valued at about $60,000.

AIRO Group Price Performance

Shares of NASDAQ AIRO opened at $8.03 on Monday. AIRO Group Holdings, Inc. has a 52 week low of $5.71 and a 52 week high of $39.07. The firm has a 50-day moving average price of $7.92 and a 200 day moving average price of $9.17. The stock has a market capitalization of $252.54 million and a price-to-earnings ratio of -17.09.

AIRO Group (NASDAQ:AIRO) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.49) EPS for the quarter. AIRO Group had a negative net margin of 19.98% and a negative return on equity of 2.44%. The company had revenue of $8.90 million during the quarter. Equities research analysts expect that AIRO Group Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Insider Activity at AIRO Group

In related news, COO John Uczekaj sold 3,415 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $8.84, for a total value of $30,188.60. Following the completion of the sale, the chief operating officer owned 20,111 shares in the company, valued at $177,781.24. This trade represents a 14.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIRO. BTIG Research reaffirmed a “neutral” rating on shares of AIRO Group in a report on Wednesday, April 8th. Wall Street Zen raised shares of AIRO Group from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Research raised shares of AIRO Group to a “hold” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AIRO Group in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, AIRO Group presently has an average rating of “Hold” and a consensus price target of $19.67.

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. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships.