Applied Aerospace & Defense (NYSE:AADX) Sets New 12-Month Low – Here’s What Happened

Applied Aerospace & Defense, Inc. (NYSE:AADX) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.77 and last traded at $11.89, with a volume of 2304360 shares trading hands. The stock had previously closed at $12.39.

Analysts Set New Price Targets

A number of research firms have weighed in on AADX. Weiss Ratings began coverage on shares of Applied Aerospace & Defense in a report on Friday, August 28th. They issued a “sell (d)” rating for the company. Morgan Stanley raised their target price on Applied Aerospace & Defense from $23.00 to $24.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Jefferies Financial Group upgraded Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. Stifel Nicolaus started coverage on Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “buy” rating and a $24.00 price target for the company. Finally, Royal Bank Of Canada started coverage on Applied Aerospace & Defense in a report on Monday, June 29th. They issued a “moderate buy” rating and a $24.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $24.62.

Applied Aerospace & Defense Stock Performance

The business has a fifty day simple moving average of $17.90.

Applied Aerospace & Defense (NYSE:AADX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($1.05). The business had revenue of $167.32 million for the quarter. On average, analysts anticipate that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in Applied Aerospace & Defense in the 2nd quarter worth about $8,373,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in Applied Aerospace & Defense during the 2nd quarter worth approximately $3,044,000. Squarepoint Ops LLC purchased a new stake in Applied Aerospace & Defense during the 2nd quarter worth approximately $1,232,000. Finally, Readystate Asset Management LP acquired a new position in shares of Applied Aerospace & Defense during the second quarter valued at approximately $752,000.

About Applied Aerospace & Defense

Applied Aerospace and Defense Inc specializes in providing advanced design, engineering and vertically integrated manufacturing solutions for next-generation space and defense technology companies. Its core service offerings include design and analysis, fabrication and assembly and inspection, qualification and testing. Applied Aerospace and Defense Inc is based in HUNTSVILLE, United States.