Applied Aerospace & Defense, Inc. (NYSE:AADX) Short Interest Update

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,663,604 shares, a growth 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 days-to-cover ratio is presently 2.1 days. Currently, 1.6% of the shares of the stock are sold short.

Applied Aerospace & Defense Stock Performance

Shares of NYSE:AADX traded down $0.46 during trading hours on Wednesday, hitting $18.77. 113,619 shares of the company’s stock traded hands, compared to its average volume of 1,553,877. Applied Aerospace & Defense has a 1 year low of $17.08 and a 1 year high of $24.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AADX shares. Stifel Nicolaus began coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued a “buy” rating and a $24.00 target price for the company. Zacks Research upgraded Applied Aerospace & Defense to a “hold” rating in a report on Tuesday, June 30th. Robert W. Baird started coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They issued an “outperform” rating and a $30.00 price target for the company. Wall Street Zen raised shares of Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, UBS Group set a $24.00 price objective on shares of Applied Aerospace & Defense in a research note on Sunday, June 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Applied Aerospace & Defense currently has a consensus rating of “Moderate Buy” and an average target price of $24.62.

Insider Buying and Selling at Applied Aerospace & Defense

In other Applied Aerospace & Defense news, CFO Jeffrey L. Mcrae bought 25,000 shares of the firm’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 $500,000.00. Following the transaction, the chief financial officer owned 25,000 shares of the company’s stock, valued at $500,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James C. Katzman purchased 25,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the acquisition, the director owned 29,250 shares in the company, valued at $585,000. The trade was a 588.24% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 58,500 shares of company stock worth $1,170,000 over the last 90 days.