AeroVironment (NASDAQ:AVAV) Hits New 12-Month Low After Earnings Miss

Shares of AeroVironment, Inc. (NASDAQ:AVAV) hit a new 52-week low during trading on Tuesday following a weaker than expected earnings announcement. The company traded as low as $135.17 and last traded at $141.90, with a volume of 963436 shares trading hands. The stock had previously closed at $142.63.

The aerospace company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.28). AeroVironment had a return on equity of 8.12% and a net margin of 6.39%.

Wall Street Analyst Weigh In

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

Institutional Trading of AeroVironment

Hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC raised its stake in shares of AeroVironment by 120.2% during the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 101 shares during the period. Modus Advisors LLC purchased a new stake in shares of AeroVironment during the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC purchased a new stake in shares of AeroVironment during the fourth quarter valued at approximately $31,000. Colonial Trust Advisors purchased a new stake in shares of AeroVironment during the fourth quarter valued at approximately $31,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of AeroVironment during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Price Performance

The company has a market cap of $4.00 billion, a PE ratio of 81.55 and a beta of 0.52. The business’s 50 day moving average price is $164.89 and its 200-day moving average price is $184.37. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

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.