AeroVironment (NASDAQ:AVAV) Trading 3.4% Higher – Here’s What Happened

AeroVironment, Inc. (NASDAQ:AVAV)’s stock price was up 3.4% during mid-day trading on Tuesday . The company traded as high as $122.49 and last traded at $117.28. Approximately 244,545 shares traded hands during trading, a decline of 39% from the average daily volume of 401,018 shares. The stock had previously closed at $113.38.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVAV. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research report on Wednesday, March 5th. Jefferies Financial Group lowered their price target on shares of AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Raymond James raised shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 price objective on the stock in a research note on Tuesday. Finally, Robert W. Baird lowered their target price on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $202.00.

AeroVironment Stock Up 6.7 %

The stock’s 50-day moving average is $145.36 and its 200-day moving average is $173.96. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 69.56 and a beta of 0.74. The company has a current ratio of 4.61, a quick ratio of 3.36 and a debt-to-equity ratio of 0.02.

Insider Activity

In related news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

Several institutional investors and hedge funds have recently bought and sold shares of AVAV. CoreCap Advisors LLC boosted its position in AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 101 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in AeroVironment by 171.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 244 shares of the aerospace company’s stock valued at $29,000 after buying an additional 154 shares in the last quarter. Modus Advisors LLC purchased a new position in shares of AeroVironment in the fourth quarter valued at $31,000. Golden State Wealth Management LLC bought a new stake in shares of AeroVironment during the 4th quarter valued at $31,000. Finally, Colonial Trust Advisors purchased a new stake in AeroVironment during the 4th quarter worth about $31,000. 86.38% of the stock is owned by institutional investors.

AeroVironment Company Profile

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.