Mizuho Cuts AIRO Group (NASDAQ:AIRO) Price Target to $13.00

AIRO Group (NASDAQ:AIRO) had its target price trimmed by Mizuho from $16.00 to $13.00 in a research report report published on Tuesday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently commented on AIRO. Weiss Ratings reissued a “sell (e+)” rating on shares of AIRO Group in a research note on Friday, May 29th. BTIG Research reaffirmed a “neutral” rating on shares of AIRO Group in a research report on Wednesday, April 8th. Zacks Research upgraded AIRO Group to a “hold” rating in a research note on Wednesday, April 15th. Finally, Wall Street Zen upgraded AIRO Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 13th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AIRO Group currently has a consensus rating of “Hold” and an average price target of $17.33.

AIRO Group Stock Down 0.1%

AIRO Group stock opened at $7.14 on Tuesday. AIRO Group has a 52-week low of $5.71 and a 52-week high of $25.90. The firm has a market cap of $224.55 million and a PE ratio of -15.19. The company’s 50 day moving average is $7.40 and its two-hundred day moving average is $8.87.

AIRO Group (NASDAQ:AIRO) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) EPS for the quarter. The business had revenue of $8.90 million during the quarter. AIRO Group had a negative return on equity of 2.44% and a negative net margin of 19.98%. On average, equities research analysts anticipate that AIRO Group will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at AIRO Group

In other news, CFO Mariya Pylypiv sold 30,028 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $7.66, for a total value of $230,014.48. Following the sale, the chief financial officer directly owned 80,188 shares in the company, valued at approximately $614,240.08. This trade represents a 27.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AIRO. Geode Capital Management LLC purchased a new stake in AIRO Group during the second quarter worth approximately $355,000. Creative Planning acquired a new position in AIRO Group in the second quarter valued at approximately $217,000. Norges Bank purchased a new position in AIRO Group in the second quarter valued at approximately $481,000. WINTON GROUP Ltd purchased a new position in AIRO Group in the second quarter valued at approximately $298,000. Finally, Raymond James Financial Inc. acquired a new stake in AIRO Group during the second quarter worth approximately $43,000.

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.