AEVEX (NYSE:AVEX) Shares Down 7.2% – Time to Sell?

AEVEX Corp. (NYSE:AVEX) shares were down 7.2% during mid-day trading on Wednesday. The company traded as low as $14.06 and last traded at $14.06. Approximately 322,243 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,101,488 shares. The stock had previously closed at $15.15.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AVEX. Jefferies Financial Group initiated coverage on shares of AEVEX in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 target price for the company. Piper Sandler assumed coverage on AEVEX in a research note on Wednesday, September 2nd. They issued a “neutral” rating and a $20.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of AEVEX in a research note on Thursday, August 13th. Finally, Weiss Ratings started coverage on shares of AEVEX in a report on Friday, August 14th. They set a “sell (d)” rating for the company. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, AEVEX presently has a consensus rating of “Moderate Buy” and an average target price of $33.11.

AEVEX Stock Up 0.1%

The company has a market cap of $1.62 billion and a price-to-earnings ratio of 44.50. The company’s 50 day moving average is $17.45. 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 released its earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $201.79 million during the quarter, compared to analysts’ expectations of $155.15 million. AEVEX’s quarterly revenue was up 99.5% compared to the same quarter last year. Analysts anticipate that AEVEX Corp. will post 0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AEVEX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. bought a new stake in shares of AEVEX in the 2nd quarter worth approximately $19,903,000. Concurrent Investment Advisors LLC bought a new position in shares of AEVEX in the second quarter valued at $2,381,000. State Street Corp acquired a new stake in shares of AEVEX during the 2nd quarter valued at $6,885,000. Readystate Asset Management LP acquired a new position in shares of AEVEX in the 2nd quarter worth $1,044,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of AEVEX during the second quarter worth $343,000.

AEVEX Company Profile

AEVEX Aerospace (NYSE: AVEX) is a defense technology company that develops and delivers aerospace, autonomous systems, and national security solutions. The company supports government and defense customers with capabilities spanning intelligence, surveillance and reconnaissance, precision effects, mission systems, and operational support.

Its offerings include unmanned aircraft systems, autonomous platforms, specialized payloads, counter-unmanned aircraft technologies, signals intelligence and geospatial intelligence solutions, as well as mission planning, training, sustainment, and modernization services.