AeroVironment (AVAV) Stock Price Down 5.5%

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AeroVironment, Inc. (NASDAQ:AVAV)’s share price dropped 5.5% on Friday . The company traded as low as $70.90 and last traded at $71.04. Approximately 1,073,394 shares changed hands during trading, an increase of 267% from the average daily volume of 292,314 shares. The stock had previously closed at $75.15.

AVAV has been the subject of a number of research reports. Drexel Hamilton reiterated a “hold” rating on shares of AeroVironment in a research report on Friday, November 30th. Zacks Investment Research upgraded shares of AeroVironment from a “hold” rating to a “strong-buy” rating and set a $88.00 price objective for the company in a research report on Monday, December 3rd. BidaskClub lowered shares of AeroVironment from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. ValuEngine upgraded shares of AeroVironment from a “hold” rating to a “buy” rating in a research report on Saturday, December 15th. Finally, William Blair began coverage on shares of AeroVironment in a research report on Thursday, January 24th. They issued an “outperform” rating and a $73.60 price objective for the company. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. AeroVironment currently has an average rating of “Hold” and a consensus target price of $77.60.

The stock has a market cap of $1.70 billion, a P/E ratio of 65.78, a P/E/G ratio of 2.16 and a beta of 1.36.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Tuesday, March 5th. The aerospace company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.21. AeroVironment had a net margin of 17.48% and a return on equity of 11.40%. As a group, equities research analysts anticipate that AeroVironment, Inc. will post 1.49 earnings per share for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 20,688 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $82.88, for a total value of $1,714,621.44. Following the sale, the chairman now directly owns 55,659 shares of the company’s stock, valued at $4,613,017.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 20,700 shares of the firm’s stock in a transaction that occurred on Friday, January 11th. The shares were sold at an average price of $72.71, for a total transaction of $1,505,097.00. Following the completion of the sale, the chairman now directly owns 55,659 shares in the company, valued at $4,046,965.89. The disclosure for this sale can be found here. Insiders sold 93,138 shares of company stock worth $7,246,903 over the last ninety days. 11.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in AeroVironment by 4.4% in the fourth quarter. BlackRock Inc. now owns 3,852,473 shares of the aerospace company’s stock valued at $261,777,000 after purchasing an additional 164,034 shares in the last quarter. Vanguard Group Inc. raised its stake in AeroVironment by 25.9% in the third quarter. Vanguard Group Inc. now owns 2,628,986 shares of the aerospace company’s stock valued at $294,894,000 after purchasing an additional 540,901 shares in the last quarter. Vanguard Group Inc raised its stake in AeroVironment by 25.9% in the third quarter. Vanguard Group Inc now owns 2,628,986 shares of the aerospace company’s stock valued at $294,894,000 after purchasing an additional 540,901 shares in the last quarter. Baillie Gifford & Co. raised its stake in AeroVironment by 5.6% in the third quarter. Baillie Gifford & Co. now owns 807,478 shares of the aerospace company’s stock valued at $90,575,000 after purchasing an additional 42,890 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in AeroVironment by 3,574.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 614,301 shares of the aerospace company’s stock valued at $68,903,000 after purchasing an additional 597,581 shares in the last quarter. 84.82% of the stock is currently owned by institutional investors and hedge funds.

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About AeroVironment (NASDAQ:AVAV)

AeroVironment, Inc designs, develops, produces, supports, and operates a portfolio of products and services for government agencies and businesses. The company offers unmanned aircraft systems (UAS) and related services primarily to organizations within the U.S. Department of Defense and to international allied governments; and tactical missile systems and related services to organizations within the U.S.

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