AeroVironment Inc. (AVAV) Sees Strong Trading Volume
Shares of AeroVironment Inc. (NASDAQ:AVAV) saw an uptick in trading volume on Thursday . 198,821 shares were traded during mid-day trading, an increase of 12% from the previous session’s volume of 177,233 shares.The stock last traded at $23.91 and had previously closed at $24.74.
Several research firms recently commented on AVAV. Stifel Nicolaus reiterated a “hold” rating on shares of AeroVironment in a report on Thursday. Zacks Investment Research downgraded AeroVironment from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Jefferies Group reiterated a “hold” rating and issued a $27.00 price objective on shares of AeroVironment in a report on Friday, August 12th. Canaccord Genuity reiterated a “hold” rating on shares of AeroVironment in a report on Wednesday, June 29th. Finally, Raymond James Financial Inc. reiterated a “hold” rating on shares of AeroVironment in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. AeroVironment presently has a consensus rating of “Hold” and a consensus target price of $30.00.
The stock has a market cap of $557.48 million and a price-to-earnings ratio of 62.33. The stock has a 50-day moving average of $28.42 and a 200 day moving average of $28.18.
AeroVironment (NASDAQ:AVAV) last issued its earnings results on Tuesday, August 30th. The company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.34. The business earned $36.20 million during the quarter, compared to analyst estimates of $37.81 million. During the same period last year, the company earned ($0.24) EPS. The company’s revenue for the quarter was down 23.1% on a year-over-year basis. Equities analysts anticipate that AeroVironment Inc. will post $0.20 EPS for the current fiscal year.
In related news, CFO Raymond D. Cook sold 1,121 shares of the company’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $27.49, for a total transaction of $30,816.29. Following the completion of the sale, the chief financial officer now directly owns 13,879 shares in the company, valued at approximately $381,533.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Timothy E. Conver sold 61,000 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $32.01, for a total value of $1,952,610.00. Following the sale, the chairman now owns 51,803 shares of the company’s stock, valued at $1,658,214.03. The disclosure for this sale can be found here.
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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