AeroVironment (NASDAQ:AVAV) Trading Up 5.3% – Here’s What Happened

Shares of AeroVironment, Inc. (NASDAQ:AVAV) were up 5.3% on Friday . The stock traded as high as $182.60 and last traded at $181.16. Approximately 199,775 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 324,999 shares. The stock had previously closed at $171.98.

Wall Street Analyst Weigh In

AVAV has been the subject of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of AeroVironment in a research note on Thursday, December 5th. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and reduced their target price for the company from $240.00 to $230.00 in a research note on Wednesday, November 20th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AeroVironment presently has a consensus rating of “Buy” and a consensus target price of $225.20.

AeroVironment Stock Up 4.9 %

The company has a market cap of $5.09 billion, a P/E ratio of 103.61 and a beta of 0.50. 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 fifty day moving average price of $169.73 and a two-hundred day moving average price of $185.82.

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

Insiders Place Their Bets

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the transaction, the chief financial officer now directly owns 16,472 shares of the company’s stock, valued at approximately $3,273,480.56. The trade was a 2.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVAV. Franklin Resources Inc. lifted its holdings in shares of AeroVironment by 299.4% in the third quarter. Franklin Resources Inc. now owns 4,821 shares of the aerospace company’s stock worth $1,037,000 after buying an additional 3,614 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in AeroVironment by 22.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,893 shares of the aerospace company’s stock worth $599,000 after purchasing an additional 721 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in AeroVironment by 740.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 63,919 shares of the aerospace company’s stock valued at $9,836,000 after purchasing an additional 56,318 shares during the period. Park Avenue Securities LLC purchased a new position in shares of AeroVironment during the 4th quarter valued at $212,000. Finally, Foundations Investment Advisors LLC bought a new position in shares of AeroVironment in the third quarter worth $271,000. 86.38% of the stock is currently 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.