Applied Aerospace & Defense, Inc. (NYSE:AADX) Shares Shorted: Short Interest Up 64.8% in September

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. Currently, 3.1% of the company’s stock are short sold. Based on an average daily volume of 2,362,895 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AADX. Wellington Management Group LLP acquired a new stake in Applied Aerospace & Defense in the second quarter valued at about $8,373,000. B. Metzler seel. Sohn & Co. AG acquired a new position in Applied Aerospace & Defense during the 2nd quarter worth approximately $3,044,000. Squarepoint Ops LLC purchased a new position in shares of Applied Aerospace & Defense during the 2nd quarter worth approximately $1,232,000. Readystate Asset Management LP purchased a new position in shares of Applied Aerospace & Defense during the 2nd quarter worth approximately $752,000. Finally, Valeo Financial Advisors LLC purchased a new position in shares of Applied Aerospace & Defense during the 3rd quarter worth approximately $120,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wolfe Research began coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $23.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of Applied Aerospace & Defense from $24.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday. Guggenheim began coverage on shares of Applied Aerospace & Defense in a research report on Monday, September 14th. They set a “buy” rating and a $30.00 price objective for the company. Bank of America reduced their price objective on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Finally, Weiss Ratings assumed coverage on shares of Applied Aerospace & Defense in a report on Friday, August 28th. They issued a “sell (d)” rating for the company. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Applied Aerospace & Defense currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.44.

Applied Aerospace & Defense Stock Performance

Shares of AADX stock traded up $0.01 during mid-day trading on Friday, hitting $11.36. 8,687,342 shares of the stock were exchanged, compared to its average volume of 2,322,286. The firm’s fifty day moving average price is $13.49. The company has a market capitalization of $1.96 billion and a PE ratio of -45.44. Applied Aerospace & Defense has a 12-month low of $10.31 and a 12-month high of $24.24. The company has a quick ratio of 2.08, a current ratio of 2.51 and a debt-to-equity ratio of 0.51.

Applied Aerospace & Defense (NYSE:AADX) last posted its earnings results 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. On average, research analysts expect that Applied Aerospace & Defense will post -0.61 earnings per share for the current fiscal year.

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.