AeroVironment (NASDAQ:AVAV) Stock Price Down 5.6% – What’s Next?

Shares of AeroVironment, Inc. (NASDAQ:AVAV) fell 5.6% on Wednesday . The stock traded as low as $168.80 and last traded at $169.35. 223,255 shares were traded during trading, a decline of 33% from the average session volume of 333,794 shares. The stock had previously closed at $179.35.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVAV shares. Jefferies Financial Group upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and reduced their price target for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research report on Thursday, December 5th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AeroVironment currently has a consensus rating of “Buy” and an average target price of $225.20.

AeroVironment Trading Down 6.5 %

The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 96.41 and a beta of 0.52. The business has a fifty day moving average of $167.42 and a 200-day moving average of $186.68.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Wednesday, December 4th. The aerospace company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.29). The business had revenue of $188.46 million during the quarter, compared to the consensus estimate of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. On average, equities analysts anticipate that AeroVironment, Inc. will post 3.38 earnings per share for the current fiscal year.

Insider Transactions at AeroVironment

In other AeroVironment news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total transaction of $78,697.08. Following the sale, the chief financial officer now directly owns 16,472 shares of the company’s stock, valued at $3,273,480.56. The trade was a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.27% of the company’s stock.

Institutional Trading of AeroVironment

Hedge funds have recently made changes to their positions in the stock. Ritholtz Wealth Management acquired a new position in shares of AeroVironment in the third quarter worth $248,000. Exchange Traded Concepts LLC grew its stake in AeroVironment by 4.2% in the third quarter. Exchange Traded Concepts LLC now owns 4,065 shares of the aerospace company’s stock valued at $815,000 after purchasing an additional 162 shares in the last quarter. NBC Securities Inc. increased its position in AeroVironment by 47.4% in the 3rd quarter. NBC Securities Inc. now owns 432 shares of the aerospace company’s stock worth $86,000 after purchasing an additional 139 shares during the last quarter. Magnus Financial Group LLC raised its stake in shares of AeroVironment by 47.7% during the 3rd quarter. Magnus Financial Group LLC now owns 2,633 shares of the aerospace company’s stock worth $528,000 after purchasing an additional 850 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in shares of AeroVironment during the 3rd quarter worth about $241,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.