AeroVironment (NASDAQ:AVAV) Stock Price Up 3.1% – Here’s Why

AeroVironment, Inc. (NASDAQ:AVAV) shares traded up 3.1% during mid-day trading on Thursday . The company traded as high as $147.33 and last traded at $146.57. Approximately 942,754 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,661,735 shares. The stock had previously closed at $142.12.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of AeroVironment from $280.00 to $240.00 and set a “buy” rating on the stock in a report on Friday, July 10th. UBS Group reiterated a “buy” rating on shares of AeroVironment in a research note on Thursday, July 9th. Piper Sandler dropped their price objective on shares of AeroVironment from $248.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. William Blair reissued an “outperform” rating on shares of AeroVironment in a research note on Wednesday, July 15th. Finally, BTIG Research restated a “buy” rating and issued a $205.00 price objective on shares of AeroVironment in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.68.

AeroVironment Price Performance

The firm has a fifty day moving average price of $165.29 and a two-hundred day moving average price of $207.19. The company has a quick ratio of 3.59, a current ratio of 4.30 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $7.56 billion, a P/E ratio of -40.59, a P/E/G ratio of 4.98 and a beta of 1.39.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Monday, June 29th. The aerospace company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.37. AeroVironment had a negative net margin of 9.00% and a positive return on equity of 3.71%. The company had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $555.97 million. During the same quarter in the previous year, the business posted $1.61 EPS. AeroVironment’s revenue was up 133.3% compared to the same quarter last year. AeroVironment has set its FY 2027 guidance at 3.020-3.340 EPS. On average, analysts expect that AeroVironment, Inc. will post 3.26 EPS for the current year.

Insider Activity

In other news, Director Stephen F. Page sold 250 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $174.41, for a total value of $43,602.50. Following the transaction, the director owned 49,001 shares in the company, valued at approximately $8,546,264.41. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On AeroVironment

A number of hedge funds have recently added to or reduced their stakes in AVAV. Sunbelt Securities Inc. purchased a new stake in AeroVironment during the 1st quarter valued at $25,000. Tema Etfs LLC bought a new stake in shares of AeroVironment in the 4th quarter worth $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of AeroVironment in the fourth quarter worth $26,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of AeroVironment in the first quarter worth $28,000. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of AeroVironment by 90.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 133 shares of the aerospace company’s stock valued at $32,000 after purchasing an additional 63 shares in the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

About AeroVironment

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.