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

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 1,570,969 shares, a drop of 41.0% from the June 30th total of 2,663,604 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 1,044,595 shares, the days-to-cover ratio is presently 1.5 days.

Applied Aerospace & Defense Trading Up 8.3%

Shares of Applied Aerospace & Defense stock opened at $18.80 on Friday. The stock has a 50-day moving average price of $19.58. Applied Aerospace & Defense has a 12-month low of $16.57 and a 12-month high of $24.24.

Insider Buying and Selling

In other Applied Aerospace & Defense news, Director Susan D. Lynch acquired 8,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were acquired at an average price of $20.00 per share, with a total value of $160,000.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at approximately $160,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James C. Katzman bought 25,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the director owned 29,250 shares in the company, valued at approximately $585,000. The trade was a 588.24% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 58,500 shares of company stock worth $1,170,000.

Wall Street Analyst Weigh In

AADX has been the subject of several recent research reports. Zacks Research raised Applied Aerospace & Defense to a “hold” rating in a report on Tuesday, June 30th. UBS Group set a $24.00 price objective on Applied Aerospace & Defense in a research note on Sunday, June 28th. Morgan Stanley began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set an “equal weight” rating and a $23.00 price objective on the stock. Wall Street Zen upgraded shares of Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Robert W. Baird started coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They issued an “outperform” rating and a $30.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense, Inc is an industrials company in the Aerospace & Defense industry.