AeroVironment (NASDAQ:AVAV) Trading Down 5.8% – Here’s What Happened

AeroVironment, Inc. (NASDAQ:AVAV)’s stock price dropped 5.8% during trading on Friday . The stock traded as low as $149.33 and last traded at $149.51. 1,107,780 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 1,677,850 shares. The stock had previously closed at $158.73.

Key Stories Impacting AeroVironment

Here are the key news stories impacting AeroVironment this week:

• Neutral Sentiment: Several law firms reiterated the approaching July 27 lead-plaintiff deadline in the AVAV securities class action, keeping AeroVironment in the news and highlighting ongoing legal overhang. Article Title
• Neutral Sentiment: The company also saw another round of short-interest commentary, but the filing reported zero shares short, so it does not appear to add meaningful new pressure. Article Title
• Positive Sentiment: AeroVironment recently scored a new Army contract, and investors have also been encouraged by strong defense-program momentum, which supports the long-term revenue outlook even as the stock trades lower near term. Article Title

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wolfe Research cut AeroVironment to a “buy” rating in a research note on Tuesday, June 30th. Clear Str upgraded AeroVironment to a “strong-buy” rating in a report on Wednesday, April 29th. Stifel Nicolaus dropped their target price on AeroVironment from $315.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Citizens Jmp reduced their price target on AeroVironment from $350.00 to $230.00 and set a “market outperform” rating on the stock in a research report on Friday, July 10th. Finally, UBS Group restated a “buy” rating on shares of AeroVironment in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $266.68.

AeroVironment Trading Down 5.8%

The business’s 50-day simple moving average is $166.95 and its two-hundred day simple moving average is $213.90. The company has a current ratio of 4.30, a quick ratio of 3.59 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $7.57 billion, a PE ratio of -40.63, a PEG ratio of 5.11 and a beta of 1.39.

AeroVironment (NASDAQ:AVAV) last announced its 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 positive return on equity of 3.71% and a negative net margin of 9.00%.The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $555.97 million. During the same period in the previous year, the company earned $1.61 earnings per share. The company’s revenue for the quarter 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 predict that AeroVironment, Inc. will post 3.26 earnings per share for the current year.

Insiders Place Their Bets

In other AeroVironment news, Director Stephen F. Page sold 250 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $174.41, for a total transaction of $43,602.50. Following the completion of the sale, the director owned 49,001 shares in the company, valued at $8,546,264.41. This trade represents a 0.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AeroVironment

Several institutional investors and hedge funds have recently made changes to their positions in AVAV. Geode Capital Management LLC grew its position in shares of AeroVironment by 8.8% during the fourth quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company’s stock worth $213,956,000 after buying an additional 71,903 shares in the last quarter. Heard Capital LLC increased its stake in shares of AeroVironment by 48.4% in the fourth quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company’s stock worth $174,681,000 after buying an additional 235,685 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in AeroVironment by 17.2% in the second quarter. Ameriprise Financial Inc. now owns 504,270 shares of the aerospace company’s stock valued at $143,692,000 after acquiring an additional 73,963 shares in the last quarter. Stephens Investment Management Group LLC raised its holdings in AeroVironment by 18.8% in the first quarter. Stephens Investment Management Group LLC now owns 490,426 shares of the aerospace company’s stock valued at $89,772,000 after acquiring an additional 77,619 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in AeroVironment by 7.4% during the 2nd quarter. Alliancebernstein L.P. now owns 477,055 shares of the aerospace company’s stock valued at $135,937,000 after acquiring an additional 32,721 shares during the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

AeroVironment Company Profile

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.