Short Interest in AEVEX Corp. (NYSE:AVEX) Increases By 274.7%

AEVEX Corp. (NYSE:AVEX) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 3,500,519 shares, a growth of 274.7% from the June 15th total of 934,262 shares. Based on an average trading volume of 2,932,643 shares, the days-to-cover ratio is presently 1.2 days. Currently, 3.1% of the company’s stock are sold short.

Insider Buying and Selling

In related news, Director Brian Raduenz purchased 50,000 shares of AEVEX stock in a transaction dated Thursday, April 16th. The stock was purchased at an average cost of $20.00 per share, with a total value of $1,000,000.00. Following the transaction, the director owned 50,000 shares in the company, valued at approximately $1,000,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Madison Dearborn Partners Llc sold 2,273,843 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $25.99, for a total value of $59,097,179.57. Following the sale, the insider owned 22,861,457 shares of the company’s stock, valued at $594,169,267.43. This trade represents a 9.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders bought 74,150 shares of company stock valued at $1,483,000.

AEVEX Price Performance

AEVEX stock traded up $0.73 during midday trading on Tuesday, reaching $16.64. The company’s stock had a trading volume of 1,191,604 shares, compared to its average volume of 2,652,877. The firm has a market capitalization of $1.90 billion and a PE ratio of 66.56. The stock’s 50-day simple moving average is $23.42. AEVEX has a 52-week low of $15.07 and a 52-week high of $42.34.

Wall Street Analyst Weigh In

AVEX has been the subject of several analyst reports. Zacks Research raised shares of AEVEX to a “hold” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group assumed coverage on shares of AEVEX in a research report on Tuesday, May 12th. They issued a “buy” rating and a $34.00 price objective on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $33.00 price objective on shares of AEVEX in a research note on Monday, May 25th. Raymond James Financial initiated coverage on shares of AEVEX in a research note on Tuesday, May 12th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Wall Street Zen raised shares of AEVEX to a “hold” rating in a report on Saturday, April 25th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.62.