Kovack Advisors Inc. Acquires New Holdings in AeroVironment, Inc. $AVAV

Kovack Advisors Inc. purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 826 shares of the aerospace company’s stock, valued at approximately $235,000.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in AeroVironment by 296.0% during the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 74 shares during the last quarter. RMG Wealth Management LLC bought a new position in AeroVironment during the 2nd quarter worth approximately $28,000. Bessemer Group Inc. raised its holdings in AeroVironment by 60.3% during the 2nd quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock worth $33,000 after purchasing an additional 44 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in AeroVironment during the 2nd quarter worth approximately $46,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in AeroVironment by 21.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 237 shares of the aerospace company’s stock worth $68,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

Insider Buying and Selling at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 998 shares of AeroVironment stock in a transaction on Friday, October 10th. The shares were sold at an average price of $399.74, for a total value of $398,940.52. Following the completion of the sale, the chief financial officer owned 19,324 shares of the company’s stock, valued at approximately $7,724,575.76. This trade represents a 4.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction on Monday, October 6th. The shares were sold at an average price of $381.00, for a total transaction of $654,177.00. Following the completion of the sale, the insider directly owned 4,907 shares of the company’s stock, valued at approximately $1,869,567. The trade was a 25.92% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.81% of the company’s stock.

AeroVironment Stock Performance

NASDAQ AVAV opened at $369.91 on Monday. The company has a fifty day simple moving average of $315.31 and a 200 day simple moving average of $247.78. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $417.86. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16. The company has a market cap of $18.47 billion, a P/E ratio of -577.98, a PEG ratio of 5.37 and a beta of 0.99.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share (EPS) for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The business had revenue of $132.62 million during the quarter. Sell-side analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on AVAV shares. Cantor Fitzgerald started coverage on shares of AeroVironment in a report on Tuesday, July 8th. They set an “overweight” rating and a $335.00 price target for the company. Zacks Research downgraded shares of AeroVironment from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. New Street Research set a $365.00 price objective on shares of AeroVironment in a research report on Wednesday, October 1st. Canaccord Genuity Group raised their price objective on shares of AeroVironment from $305.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of AeroVironment in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, AeroVironment currently has an average rating of “Moderate Buy” and a consensus price target of $356.07.

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.