CPI Aerostructures (NYSEAMERICAN:CVU) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of CPI Aerostructures (NYSEAMERICAN:CVU) in a report published on Wednesday. The brokerage issued a buy rating on the aerospace company’s stock.

CPI Aerostructures Stock Up 2.0 %

Shares of CVU opened at $2.85 on Wednesday. The stock has a market cap of $36.56 million, a price-to-earnings ratio of 2.06 and a beta of 1.68. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.45 and a current ratio of 1.51. CPI Aerostructures has a fifty-two week low of $2.15 and a fifty-two week high of $4.34.

CPI Aerostructures (NYSEAMERICAN:CVU) last announced its quarterly earnings results on Friday, April 5th. The aerospace company reported $0.08 earnings per share for the quarter. The company had revenue of $23.50 million for the quarter. CPI Aerostructures had a return on equity of 154.84% and a net margin of 10.61%.

Institutional Investors Weigh In On CPI Aerostructures

Institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in shares of CPI Aerostructures during the 4th quarter valued at about $55,000. NewEdge Advisors LLC grew its position in shares of CPI Aerostructures by 53.9% during the 1st quarter. NewEdge Advisors LLC now owns 19,671 shares of the aerospace company’s stock valued at $58,000 after acquiring an additional 6,892 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of CPI Aerostructures during the 4th quarter valued at about $61,000. Geode Capital Management LLC purchased a new position in CPI Aerostructures in the 4th quarter valued at about $77,000. Finally, Citadel Advisors LLC lifted its stake in CPI Aerostructures by 83.0% in the 4th quarter. Citadel Advisors LLC now owns 32,051 shares of the aerospace company’s stock valued at $87,000 after buying an additional 14,537 shares in the last quarter. 25.98% of the stock is currently owned by institutional investors and hedge funds.

About CPI Aerostructures

CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. The company also offers aerosystems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.