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 in August. As of August 31st, there was short interest totaling 3,166,050 shares, a growth of 94.6% from the August 15th total of 1,626,788 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average daily volume of 1,658,819 shares, the days-to-cover ratio is presently 1.9 days.

Applied Aerospace & Defense Stock Performance

NYSE:AADX traded up $0.10 during mid-day trading on Thursday, reaching $12.79. The stock had a trading volume of 817,182 shares, compared to its average volume of 1,483,463. The company has a 50 day moving average of $16.59. Applied Aerospace & Defense has a fifty-two week low of $11.39 and a fifty-two week high of $24.24.

Applied Aerospace & Defense (NYSE:AADX) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($1.05). The company had revenue of $167.32 million for the quarter. As a group, sell-side analysts forecast that Applied Aerospace & Defense will post -0.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on AADX shares. Wolfe Research began coverage on shares of Applied Aerospace & Defense in a research report on Monday, June 29th. They set an “outperform” rating and a $23.00 price objective on the stock. Morgan Stanley increased their target price on shares of Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Stifel Nicolaus assumed coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They set a “buy” rating and a $24.00 target price for the company. Robert W. Baird started coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set an “outperform” rating and a $30.00 price target on the stock. Finally, UBS Group set a $24.00 price target on shares of Applied Aerospace & Defense in a research note on Sunday, June 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.22.

Institutional Investors Weigh In On Applied Aerospace & Defense

Several institutional investors and hedge funds have recently modified their holdings of AADX. Wellington Management Group LLP acquired a new position in Applied Aerospace & Defense during the second quarter worth $8,373,000. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Applied Aerospace & Defense during the 2nd quarter worth about $3,044,000. Squarepoint Ops LLC acquired a new position in shares of Applied Aerospace & Defense during the 2nd quarter valued at about $1,232,000. Finally, Readystate Asset Management LP acquired a new position in shares of Applied Aerospace & Defense during the 2nd quarter valued at about $752,000.

About Applied Aerospace & Defense

Applied Aerospace and Defense Inc specializes in providing advanced design, engineering and vertically integrated manufacturing solutions for next-generation space and defense technology companies. Its core service offerings include design and analysis, fabrication and assembly and inspection, qualification and testing. Applied Aerospace and Defense Inc is based in HUNTSVILLE, United States.