AIRO Group (NASDAQ:AIRO) Trading 1.7% Higher – Here’s What Happened

AIRO Group Holdings, Inc. (NASDAQ:AIRO) shares were up 1.7% during mid-day trading on Friday . The company traded as high as $7.44 and last traded at $7.34. Approximately 239,943 shares changed hands during trading, a decline of 45% from the average daily volume of 434,209 shares. The stock had previously closed at $7.22.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AIRO shares. Zacks Research upgraded AIRO Group to a “hold” rating in a report on Wednesday, April 15th. BTIG Research restated a “neutral” rating on shares of AIRO Group in a report on Wednesday, April 8th. Finally, Wall Street Zen cut AIRO Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AIRO Group currently has an average rating of “Hold” and an average target price of $19.67.

AIRO Group Stock Performance

The stock has a 50-day moving average of $8.98 and a 200-day moving average of $10.29. The firm has a market cap of $230.77 million and a price-to-earnings ratio of 367.00.

AIRO Group (NASDAQ:AIRO) last announced its earnings results on Tuesday, March 31st. The company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $48.28 million during the quarter. Sell-side analysts predict that AIRO Group Holdings, Inc. will post -0.63 EPS for the current fiscal year.

Insider Buying and Selling

In other AIRO Group news, CFO Mariya Pylypiv sold 20,078 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $10.26, for a total transaction of $206,000.28. Following the transaction, the chief financial officer owned 49,887 shares of the company’s stock, valued at $511,840.62. The trade was a 28.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO John Uczekaj sold 3,415 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $8.84, for a total value of $30,188.60. Following the transaction, the chief operating officer directly owned 20,111 shares in the company, valued at $177,781.24. This trade represents a 14.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 23,889 shares of company stock worth $240,319.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AIRO. Woodline Partners LP increased 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 purchasing an additional 800,456 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of AIRO Group during the 3rd quarter worth approximately $15,030,000. HighTower Advisors LLC increased its position in shares of AIRO Group by 936.8% during the 4th quarter. HighTower Advisors LLC now owns 666,176 shares of the company’s stock worth $5,449,000 after purchasing an additional 601,924 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AIRO Group by 406.0% during the 3rd quarter. Vanguard Group Inc. now owns 505,951 shares of the company’s stock worth $9,714,000 after purchasing an additional 405,951 shares during the last quarter. Finally, MYDA Advisors LLC acquired a new position in shares of AIRO Group during the 4th quarter worth approximately $1,963,000.

AIRO Group Company Profile

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. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships.