AeroVironment (AVAV) Shares Up 25.9%

AeroVironment, Inc. (NASDAQ:AVAV)’s share price traded up 25.9% on Thursday . The company traded as high as $58.23 and last traded at $54.47. 4,679,900 shares changed hands during mid-day trading, an increase of 1,710% from the average session volume of 258,498 shares. The stock had previously closed at $43.25.

Several equities analysts have recently commented on the company. Canaccord Genuity reiterated a “hold” rating and set a $35.00 target price on shares of AeroVironment in a research note on Thursday, August 10th. BidaskClub cut AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Robert W. Baird reiterated a “hold” rating and set a $35.00 target price on shares of AeroVironment in a research note on Tuesday, October 24th. ValuEngine cut AeroVironment from a “buy” rating to a “hold” rating in a research note on Wednesday, November 15th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $36.00 target price on shares of AeroVironment in a research note on Thursday, August 31st. Seven research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $39.00.

The stock has a market cap of $1,031.09, a PE ratio of 33.01, a PEG ratio of 4.71 and a beta of 1.16.

AeroVironment (NASDAQ:AVAV) last posted its quarterly earnings results on Tuesday, December 5th. The aerospace company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.30. The business had revenue of $73.83 million for the quarter, compared to analyst estimates of $63.53 million. AeroVironment had a return on equity of 8.34% and a net margin of 10.42%. The business’s revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. equities analysts forecast that AeroVironment, Inc. will post 0.61 earnings per share for the current fiscal year.

In related news, Chairman Timothy E. Conver sold 3,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $44.14, for a total transaction of $167,732.00. Following the sale, the chairman now directly owns 58,138 shares of the company’s stock, valued at approximately $2,566,211.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Timothy E. Conver sold 7,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $51.47, for a total value of $391,172.00. Following the sale, the chairman now directly owns 58,138 shares in the company, valued at $2,992,362.86. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,800 shares of company stock worth $2,179,960. Corporate insiders own 11.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Argent Capital Management LLC increased its position in AeroVironment by 18.1% in the third quarter. Argent Capital Management LLC now owns 41,145 shares of the aerospace company’s stock worth $2,227,000 after buying an additional 6,295 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in AeroVironment in the third quarter worth $250,000. California Public Employees Retirement System increased its position in AeroVironment by 31.1% in the third quarter. California Public Employees Retirement System now owns 41,303 shares of the aerospace company’s stock worth $2,235,000 after buying an additional 9,803 shares during the period. Vident Investment Advisory LLC increased its position in AeroVironment by 31.1% in the third quarter. Vident Investment Advisory LLC now owns 474,428 shares of the aerospace company’s stock worth $25,676,000 after buying an additional 112,487 shares during the period. Finally, PEAK6 Investments L.P. increased its position in AeroVironment by 120.3% in the third quarter. PEAK6 Investments L.P. now owns 35,046 shares of the aerospace company’s stock worth $1,897,000 after buying an additional 19,136 shares during the period. 74.65% of the stock is currently owned by hedge funds and other institutional investors.

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AeroVironment Company Profile

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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