AeroVironment, Inc. (NASDAQ:AVAV) Short Interest Update

AeroVironment, Inc. (NASDAQ:AVAV) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,290,000 shares, an increase of 37.5% from the August 15th total of 938,400 shares. Based on an average daily trading volume, of 372,300 shares, the days-to-cover ratio is currently 3.5 days.

AeroVironment Stock Down 10.3 %

AVAV traded down $19.76 during trading hours on Monday, reaching $172.35. 364,666 shares of the stock traded hands, compared to its average volume of 338,210. AeroVironment has a fifty-two week low of $104.67 and a fifty-two week high of $224.00. The firm’s fifty day simple moving average is $179.31 and its two-hundred day simple moving average is $175.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.26 and a quick ratio of 3.04. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 79.44 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Wednesday, September 4th. The aerospace company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.28. AeroVironment had a net margin of 7.82% and a return on equity of 9.87%. The business had revenue of $189.48 million for the quarter, compared to the consensus estimate of $183.18 million. During the same period in the previous year, the firm earned $1.00 EPS. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. As a group, analysts forecast that AeroVironment will post 3.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on AVAV. Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and upped their target price for the company from $161.00 to $220.00 in a research report on Wednesday, August 28th. BTIG Research assumed coverage on shares of AeroVironment in a report on Wednesday, June 26th. They issued a “buy” rating and a $255.00 price target on the stock. Royal Bank of Canada decreased their price target on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Alembic Global Advisors upgraded shares of AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price target for the company in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AeroVironment has a consensus rating of “Buy” and an average price target of $210.20.

Insider Buying and Selling at AeroVironment

In other news, CFO Kevin Patrick Mcdonnell sold 511 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $178.45, for a total value of $91,187.95. Following the completion of the transaction, the chief financial officer now directly owns 21,334 shares in the company, valued at approximately $3,807,052.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Wahid Nawabi sold 9,867 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $169.23, for a total transaction of $1,669,792.41. Following the completion of the transaction, the chief executive officer now owns 99,892 shares of the company’s stock, valued at approximately $16,904,723.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin Patrick Mcdonnell sold 511 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $178.45, for a total value of $91,187.95. Following the sale, the chief financial officer now owns 21,334 shares in the company, valued at $3,807,052.30. The disclosure for this sale can be found here. Insiders have sold a total of 11,287 shares of company stock worth $1,928,305 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AeroVironment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new position in AeroVironment in the 1st quarter valued at $26,000. Canada Pension Plan Investment Board acquired a new stake in shares of AeroVironment during the 2nd quarter worth approximately $36,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in AeroVironment during the first quarter valued at approximately $38,000. Russell Investments Group Ltd. bought a new stake in shares of AeroVironment in the fourth quarter worth $39,000. Finally, GAMMA Investing LLC raised its position in AeroVironment by 50.2% during the first quarter. GAMMA Investing LLC now owns 401 shares of the aerospace company’s stock worth $61,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Company Profile

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.