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

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 5,386,975 shares, an increase of 64.8% from the September 15th total of 3,268,914 shares. Based on an average daily volume of 2,362,895 shares, the short-interest ratio is presently 2.3 days. Currently, 3.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AADX shares. Wolfe Research started coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price target on the stock. Wall Street Zen upgraded Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Stifel Nicolaus initiated coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They set a “buy” rating and a $24.00 price objective for the company. Guggenheim started coverage on Applied Aerospace & Defense in a report on Monday, September 14th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Morgan Stanley upped their target price on Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

Applied Aerospace & Defense Stock Performance

NYSE:AADX opened at $11.35 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.08 and a current ratio of 2.51. Applied Aerospace & Defense has a 52 week low of $10.31 and a 52 week high of $24.24. The company’s 50-day simple moving average is $13.70.

Applied Aerospace & Defense (NYSE:AADX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.05). The firm had revenue of $167.32 million during the quarter. As a group, equities research analysts anticipate that Applied Aerospace & Defense will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new position in shares of Applied Aerospace & Defense during the 3rd quarter worth about $29,000. Farther Finance Advisors LLC purchased a new position in Applied Aerospace & Defense in the 3rd quarter valued at about $29,000. Valeo Financial Advisors LLC acquired a new stake in Applied Aerospace & Defense in the 3rd quarter worth about $120,000. Readystate Asset Management LP acquired a new stake in Applied Aerospace & Defense in the 2nd quarter worth about $752,000. Finally, Squarepoint Ops LLC acquired a new stake in Applied Aerospace & Defense in the 2nd quarter worth about $1,232,000.

Applied Aerospace & Defense Company Profile

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.