AIRO Group (NASDAQ:AIRO) Posts Earnings Results

AIRO Group (NASDAQ:AIRO) released its earnings results on Friday. The company reported ($0.28) earnings per share (EPS) for the quarter, Zacks reports.

AIRO Group Stock Down 20.8%

Shares of NASDAQ AIRO traded down $2.65 during trading on Friday, reaching $10.10. 1,880,320 shares of the company traded hands, compared to its average volume of 612,078. The firm’s 50 day moving average price is $17.79. AIRO Group has a 52-week low of $9.88 and a 52-week high of $39.07.

Insider Activity at AIRO Group

In other AIRO Group news, CEO Joseph D. Burns sold 179,800 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $3,126,722.00. Following the completion of the sale, the chief executive officer directly owned 1,618,202 shares in the company, valued at approximately $28,140,532.78. The trade was a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Uczekaj sold 2,225 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total value of $38,692.75. Following the transaction, the chief operating officer directly owned 20,030 shares in the company, valued at $348,321.70. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,097,026 shares of company stock worth $19,077,282 in the last three months.

Institutional Trading of AIRO Group

A number of hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in AIRO Group in the second quarter valued at about $43,000. Bank of America Corp DE purchased a new stake in shares of AIRO Group during the 2nd quarter valued at about $60,000. JPMorgan Chase & Co. bought a new position in shares of AIRO Group in the 3rd quarter worth approximately $54,000. Rhumbline Advisers purchased a new position in shares of AIRO Group in the third quarter worth approximately $115,000. Finally, Creative Planning bought a new stake in AIRO Group during the second quarter valued at approximately $217,000.

Analysts Set New Price Targets

AIRO has been the subject of a number of analyst reports. Wall Street Zen raised AIRO Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings restated a “sell (e-)” rating on shares of AIRO Group in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AIRO Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.67.

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.