AeroVironment, Inc. (NASDAQ:AVAV) Sees Large Increase in Short Interest

AeroVironment, Inc. (NASDAQ:AVAVGet Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 969,700 shares, a growth of 7.6% from the February 29th total of 900,800 shares. Based on an average daily volume of 334,500 shares, the short-interest ratio is currently 2.9 days.

AeroVironment Stock Performance

Shares of NASDAQ AVAV traded up $0.71 during mid-day trading on Wednesday, hitting $146.56. 97,239 shares of the company’s stock traded hands, compared to its average volume of 343,197. AeroVironment has a 1 year low of $88.24 and a 1 year high of $184.61. The company’s 50-day moving average is $137.62 and its two-hundred day moving average is $127.12. The company has a quick ratio of 3.16, a current ratio of 4.66 and a debt-to-equity ratio of 0.04.

AeroVironment (NASDAQ:AVAVGet Free Report) last issued its quarterly earnings results on Monday, March 4th. The aerospace company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.33 by $0.30. The company had revenue of $186.60 million for the quarter, compared to the consensus estimate of $170.62 million. AeroVironment had a negative net margin of 15.14% and a positive return on equity of 13.93%. The firm’s revenue was up 38.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, equities analysts anticipate that AeroVironment will post 2.8 EPS for the current year.

Insider Activity

In other news, SVP Melissa Ann Brown sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $176.77, for a total transaction of $176,770.00. Following the sale, the senior vice president now directly owns 12,339 shares in the company, valued at approximately $2,181,165.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AeroVironment news, SVP Melissa Ann Brown sold 1,000 shares of AeroVironment stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $176.77, for a total value of $176,770.00. Following the sale, the senior vice president now directly owns 12,339 shares in the company, valued at approximately $2,181,165.03. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Trace E. Stevenson sold 1,913 shares of AeroVironment stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $183.00, for a total transaction of $350,079.00. Following the completion of the sale, the vice president now owns 2,570 shares in the company, valued at $470,310. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

Hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its stake in AeroVironment by 60.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,134 shares of the aerospace company’s stock worth $766,000 after acquiring an additional 3,066 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in AeroVironment by 54.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the aerospace company’s stock worth $348,000 after acquiring an additional 1,291 shares in the last quarter. Natixis Advisors L.P. grew its stake in AeroVironment by 20.3% in the 1st quarter. Natixis Advisors L.P. now owns 18,444 shares of the aerospace company’s stock worth $1,736,000 after acquiring an additional 3,117 shares in the last quarter. Bank of Montreal Can grew its stake in AeroVironment by 14.8% in the 1st quarter. Bank of Montreal Can now owns 6,918 shares of the aerospace company’s stock worth $656,000 after acquiring an additional 894 shares in the last quarter. Finally, MetLife Investment Management LLC grew its stake in AeroVironment by 41.4% in the 1st quarter. MetLife Investment Management LLC now owns 11,831 shares of the aerospace company’s stock worth $1,114,000 after acquiring an additional 3,466 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AVAV shares. William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Tuesday, March 5th. Raymond James lifted their price target on shares of AeroVironment from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, December 7th. Robert W. Baird restated a “neutral” rating and set a $161.00 target price on shares of AeroVironment in a research report on Friday, March 8th. Finally, Royal Bank of Canada upped their target price on shares of AeroVironment from $155.00 to $160.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, AeroVironment has an average rating of “Moderate Buy” and a consensus target price of $139.20.

Read Our Latest Stock Analysis on AVAV

AeroVironment Company Profile

(Get Free Report)

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.

Further Reading

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