AIRO Group Holdings, Inc.’s (NASDAQ:AIRO) Lock-Up Period Will End on December 10th

AIRO Group’s (NASDAQ:AIRO) lock-up period will end on Wednesday, December 10th. AIRO Group had issued 6,000,000 shares in its initial public offering on June 13th. The total size of the offering was $60,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

AIRO has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of AIRO Group from $31.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. Cantor Fitzgerald decreased their price target on AIRO Group from $35.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of AIRO Group in a research note on Wednesday, October 8th. Wall Street Zen downgraded AIRO Group from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, BTIG Research decreased their target price on AIRO Group from $26.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.33.

AIRO Group Stock Up 9.6%

NASDAQ:AIRO opened at $9.59 on Friday. AIRO Group has a 12-month low of $7.50 and a 12-month high of $39.07. The company has a fifty day moving average of $14.69.

AIRO Group (NASDAQ:AIRO) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.28) earnings per share (EPS) for the quarter. The business had revenue of $6.28 million during the quarter.

Insider Activity

In related news, major shareholder New Generation Aerospace, Llc sold 405,634 shares of AIRO Group stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $17.39, for a total value of $7,053,975.26. Following the completion of the transaction, the insider owned 3,650,710 shares in the company, valued at $63,485,846.90. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Chirinjeev Kathuria sold 405,634 shares of the firm’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $7,053,975.26. Following the completion of the sale, the chairman owned 3,650,710 shares in the company, valued at $63,485,846.90. The trade was a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,097,026 shares of company stock worth $19,077,282 in the last ninety days.

Institutional Trading of AIRO Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Woodline Partners LP boosted its position in shares of AIRO Group by 41.0% during the 3rd quarter. Woodline Partners LP now owns 2,753,067 shares of the company’s stock worth $52,859,000 after acquiring an additional 800,456 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in AIRO Group during the third quarter worth approximately $15,030,000. Ilex Capital Partners UK LLP purchased a new stake in AIRO Group during the second quarter worth approximately $18,750,000. Vanguard Group Inc. boosted its holdings in AIRO Group by 406.0% in the third quarter. Vanguard Group Inc. now owns 505,951 shares of the company’s stock valued at $9,714,000 after purchasing an additional 405,951 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in AIRO Group in the third quarter valued at approximately $3,806,000.

About AIRO Group

We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market.