Applied Aerospace & Defense, Inc. (NYSE:AADX) Sees Significant Growth in Short Interest

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 3,166,050 shares, an increase of 94.6% from the August 15th total of 1,626,788 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,658,819 shares, the days-to-cover ratio is currently 1.9 days.

Hedge Funds Weigh In On Applied Aerospace & Defense

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. UBS Group set a $24.00 price target on shares of Applied Aerospace & Defense in a report on Sunday, June 28th. Wall Street Zen upgraded Applied Aerospace & Defense from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. Guggenheim assumed coverage on Applied Aerospace & Defense in a report on Monday. They issued a “buy” rating and a $30.00 target price for the company. 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 target price for the company. Finally, Wolfe Research began coverage on Applied Aerospace & Defense in a research report on Monday, June 29th. They issued an “outperform” rating and a $23.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Applied Aerospace & Defense currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.22.

Applied Aerospace & Defense Price Performance

Shares of Applied Aerospace & Defense stock traded up $0.41 during midday trading on Wednesday, reaching $12.63. The company had a trading volume of 2,233,364 shares, compared to its average volume of 1,486,946. The stock’s fifty day moving average is $16.76. Applied Aerospace & Defense has a fifty-two week low of $11.39 and a fifty-two week high of $24.24.

Applied Aerospace & Defense (NYSE:AADX) last released 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 business had revenue of $167.32 million for the quarter. Equities analysts anticipate that Applied Aerospace & Defense will post -0.61 earnings per share for the current fiscal year.

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.