AeroVironment Inc. (AVAV) Sees Strong Trading Volume
AeroVironment Inc. (NASDAQ:AVAV) shares saw unusually-strong trading volume on Thursday . Approximately 162,993 shares were traded during trading, an increase of 70% from the previous session’s volume of 95,923 shares.The stock last traded at $29.57 and had previously closed at $29.47.
Several analysts recently commented on AVAV shares. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $36.00 price objective on shares of AeroVironment in a research note on Wednesday, June 1st. Jefferies Group reaffirmed a “hold” rating and set a $27.00 price objective (up previously from $26.00) on shares of AeroVironment in a research note on Wednesday, June 29th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, July 12th. Finally, Canaccord Genuity set a $28.00 price objective on AeroVironment and gave the stock a “hold” rating in a research note on Thursday, August 11th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.50.
The stock’s 50 day moving average is $28.24 and its 200-day moving average is $28.03. The stock has a market cap of $678.10 million and a PE ratio of 75.82.
AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, June 28th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.30. The business earned $84.76 million during the quarter. During the same quarter last year, the company posted $0.31 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that AeroVironment Inc. will post $0.30 earnings per share for the current fiscal year.
In other AeroVironment news, Chairman Timothy E. Conver sold 1,300 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $27.30, for a total transaction of $35,490.00. Following the sale, the chairman now owns 51,803 shares of the company’s stock, valued at $1,414,221.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Raymond D. Cook sold 1,121 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $27.49, for a total transaction of $30,816.29. Following the sale, the chief financial officer now directly owns 13,879 shares in the company, valued at approximately $381,533.71. The disclosure for this sale can be found here.
Other hedge funds have recently modified their holdings of the company. Marshall Wace LLP purchased a new stake in shares of AeroVironment during the fourth quarter worth approximately $1,235,000. Schwab Charles Investment Management Inc. boosted its stake in shares of AeroVironment by 28.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 74,742 shares of the company’s stock worth $2,203,000 after buying an additional 16,356 shares during the period. Finally, Stephens Investment Management Group LLC purchased a new stake in shares of AeroVironment during the fourth quarter worth approximately $9,630,000.
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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