Applied Aerospace & Defense, Inc. (NYSE:AADX) Sees Large Increase in Short Interest

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 2,663,604 shares, an increase of 119.5% from the June 15th total of 1,213,308 shares. Based on an average daily volume of 1,296,722 shares, the short-interest ratio is currently 2.1 days. Approximately 1.6% of the shares of the company are short sold.

Applied Aerospace & Defense Stock Performance

Shares of AADX stock traded down $1.77 during trading hours on Thursday, reaching $17.23. The stock had a trading volume of 709,876 shares, compared to its average volume of 1,553,823. Applied Aerospace & Defense has a 12 month low of $17.07 and a 12 month high of $24.24.

Analysts Set New Price Targets

A number of brokerages have weighed in on AADX. Bank of America initiated coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set a “buy” rating and a $24.00 target price for the company. Wall Street Zen raised shares of Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Wolfe Research initiated coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They issued an “outperform” rating and a $23.00 price objective for the company. Jefferies Financial Group upgraded Applied Aerospace & Defense to a “strong-buy” rating in a research report on Monday, June 29th. Finally, Morgan Stanley initiated coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They issued an “equal weight” rating and a $23.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.62.

Insider Buying and Selling at Applied Aerospace & Defense

In other news, Director James C. Katzman bought 25,000 shares of the stock in a transaction on Thursday, June 4th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $500,000.00. Following the completion of the purchase, the director directly owned 29,250 shares in the company, valued at $585,000. This represents a 588.24% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan D. Lynch purchased 8,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $160,000.00. Following the transaction, the director directly owned 8,000 shares in the company, valued at approximately $160,000. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 58,500 shares of company stock valued at $1,170,000.