AeroVironment Sees Unusually High Options Volume (AVAV)

AeroVironment (NASDAQ:AVAV) was the target of unusually large options trading activity on Tuesday. Stock investors bought 939 put options on the company. This represents an increase of 1,465% compared to the typical daily volume of 60 put options.

A number of equities analysts have recently issued reports on AVAV shares. Zacks Investment Research downgraded shares of AeroVironment from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. BidaskClub upgraded shares of AeroVironment from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 13th. ValuEngine upgraded shares of AeroVironment from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Stifel Nicolaus upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and increased their price objective for the company from $45.00 to $65.00 in a research note on Wednesday, April 11th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $47.50.

NASDAQ:AVAV opened at $52.82 on Thursday. AeroVironment has a 52 week low of $51.78 and a 52 week high of $54.08. The company has a market cap of $1.39 billion, a P/E ratio of 97.81, a PEG ratio of 2.90 and a beta of 1.20.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, March 6th. The aerospace company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. AeroVironment had a net margin of 10.50% and a return on equity of 9.15%. The company had revenue of $63.90 million during the quarter, compared to analysts’ expectations of $58.18 million. During the same quarter in the prior year, the company posted ($0.09) earnings per share. AeroVironment’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities analysts forecast that AeroVironment will post 0.7 EPS for the current fiscal year.

In other news, Chairman Timothy E. Conver sold 7,600 shares of the stock in a transaction that occurred on Tuesday, March 27th. The shares were sold at an average price of $45.78, for a total transaction of $347,928.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at $2,661,557.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Timothy E. Conver sold 3,800 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $47.72, for a total transaction of $181,336.00. Following the transaction, the chairman now owns 58,138 shares in the company, valued at $2,774,345.36. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock worth $914,812 over the last 90 days. Insiders own 11.00% of the company’s stock.

A number of large investors have recently bought and sold shares of AVAV. BlackRock Inc. lifted its position in AeroVironment by 8.5% during the first quarter. BlackRock Inc. now owns 3,826,856 shares of the aerospace company’s stock valued at $174,161,000 after acquiring an additional 298,784 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in AeroVironment during the fourth quarter valued at approximately $9,601,000. Global X Management Co. LLC lifted its position in AeroVironment by 64.7% during the first quarter. Global X Management Co. LLC now owns 418,912 shares of the aerospace company’s stock valued at $19,065,000 after acquiring an additional 164,611 shares during the last quarter. Baillie Gifford & Co. lifted its position in AeroVironment by 33.2% during the first quarter. Baillie Gifford & Co. now owns 519,555 shares of the aerospace company’s stock valued at $23,644,000 after acquiring an additional 129,600 shares during the last quarter. Finally, American Capital Management Inc. lifted its position in AeroVironment by 9.7% during the fourth quarter. American Capital Management Inc. now owns 1,441,771 shares of the aerospace company’s stock valued at $80,970,000 after acquiring an additional 127,619 shares during the last quarter. 76.16% of the stock is owned by institutional investors.

About AeroVironment

AeroVironment, Inc designs, develops, produces, supports, and operates unmanned aircraft systems (UAS) and efficient energy systems (EES) in the United States and internationally. The company offers small UAS products to deliver intelligence, surveillance, and reconnaissance; and communications, such as real-time tactical reconnaissance, tracking, combat assessment, and geographic data to the small tactical unit or individual operator.

Receive News & Ratings for AeroVironment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AeroVironment and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply