AeroVironment (AVAV) Sees Strong Trading Volume

AeroVironment, Inc. (NASDAQ:AVAV) saw unusually-strong trading volume on Thursday . Approximately 223,162 shares were traded during trading, a decline of 36% from the previous session’s volume of 350,768 shares.The stock last traded at $55.76 and had previously closed at $54.28.

Several analysts recently issued reports on AVAV shares. BidaskClub cut shares of AeroVironment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 27th. Zacks Investment Research lowered shares of AeroVironment from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. ValuEngine upgraded shares of AeroVironment from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Finally, Stifel Nicolaus upgraded shares of AeroVironment from a “hold” rating to a “buy” rating and boosted their target price for the company from $45.00 to $65.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. AeroVironment currently has a consensus rating of “Hold” and an average target price of $46.17.

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The firm has a market cap of $1,297.62, a price-to-earnings ratio of 104.15, a PEG ratio of 3.88 and a beta of 1.24.

AeroVironment (NASDAQ:AVAV) last posted its earnings results on Tuesday, March 6th. The aerospace company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $63.90 million for the quarter, compared to analyst estimates of $58.18 million. AeroVironment had a net margin of 10.50% and a return on equity of 9.15%. AeroVironment’s revenue was up 20.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.09) EPS. sell-side analysts expect that AeroVironment, Inc. will post 0.7 earnings per share for the current fiscal year.

In other news, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $53.41, for a total value of $405,916.00. Following the transaction, the chairman now directly owns 58,138 shares in the company, valued at approximately $3,105,150.58. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $47.72, for a total transaction of $181,336.00. Following the completion of the transaction, the chairman now owns 58,138 shares in the company, valued at $2,774,345.36. The disclosure for this sale can be found here. Insiders sold a total of 34,200 shares of company stock worth $1,677,928 over the last quarter. 11.00% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC acquired a new position in shares of AeroVironment in the 4th quarter worth approximately $504,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of AeroVironment by 131.9% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 18,530 shares of the aerospace company’s stock worth $1,041,000 after acquiring an additional 10,540 shares during the last quarter. Vident Investment Advisory LLC lifted its holdings in shares of AeroVironment by 22.6% in the 4th quarter. Vident Investment Advisory LLC now owns 581,600 shares of the aerospace company’s stock worth $32,663,000 after acquiring an additional 107,172 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of AeroVironment by 124.8% in the 4th quarter. Jane Street Group LLC now owns 3,657 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 2,030 shares during the last quarter. Finally, Meadow Creek Investment Management LLC lifted its holdings in shares of AeroVironment by 106.8% in the 4th quarter. Meadow Creek Investment Management LLC now owns 3,416 shares of the aerospace company’s stock worth $192,000 after acquiring an additional 1,764 shares during the last quarter. Hedge funds and other institutional investors own 74.84% of the company’s stock.

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About AeroVironment

AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.

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