Applied Aerospace & Defense (NYSE:AADX) Stock Price Down 15.4% – Here’s What Happened

Applied Aerospace & Defense, Inc. (NYSE:AADX) shares fell 15.4% during trading on Wednesday. The company traded as low as $9.36 and last traded at $9.36. 759,878 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 1,729,416 shares. The stock had previously closed at $11.06.

Wall Street Analysts Forecast Growth

AADX has been the subject of several recent analyst reports. Royal Bank Of Canada dropped their price objective on Applied Aerospace & Defense from $21.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Bank of America decreased their price target on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Weiss Ratings initiated coverage on Applied Aerospace & Defense in a research report on Friday, August 28th. They set a “sell (d)” rating on the stock. Guggenheim began coverage on shares of Applied Aerospace & Defense in a research note on Monday, September 14th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Jefferies Financial Group set a $20.00 price target on shares of Applied Aerospace & Defense in a report on Monday, October 5th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.11.

Applied Aerospace & Defense Trading Down 14.5%

The business’s fifty day moving average price is $11.91. The company has a market capitalization of $1.63 billion and a price-to-earnings ratio of -37.84. The company has a current ratio of 2.51, a quick ratio of 2.08 and a debt-to-equity ratio of 0.51.

Applied Aerospace & Defense (NYSE:AADX) last posted its earnings results on Wednesday, August 12th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($1.05). The company had revenue of $167.32 million for the quarter. As a group, sell-side analysts predict that Applied Aerospace & Defense, Inc. will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Aerospace & Defense

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. increased its stake in Applied Aerospace & Defense by 1,171.1% in the third quarter. SBI Securities Co. Ltd. now owns 2,199 shares of the company’s stock valued at $26,000 after acquiring an additional 2,026 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Applied Aerospace & Defense in the third quarter worth $29,000. Farther Finance Advisors LLC bought a new position in shares of Applied Aerospace & Defense during the third quarter valued at about $29,000. Mountain Hill Investment Partners Corp. purchased a new stake in Applied Aerospace & Defense in the 3rd quarter worth approximately $60,000. Finally, State of Wyoming bought a new stake in Applied Aerospace & Defense in the third quarter valued at $80,000.

Applied Aerospace & Defense Company Profile

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.