AEVEX (NYSE:AVEX) Shares Down 4.2% – Here’s What Happened

AEVEX Corp. (NYSE:AVEX)’s share price traded down 4.2% on Tuesday . The stock traded as low as $15.70 and last traded at $15.82. 220,400 shares traded hands during trading, a decline of 90% from the average session volume of 2,162,908 shares. The stock had previously closed at $16.51.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVEX shares. JPMorgan Chase & Co. raised their target price on shares of AEVEX from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Piper Sandler assumed coverage on shares of AEVEX in a research note on Wednesday, September 2nd. They set a “neutral” rating and a $20.00 target price on the stock. Weiss Ratings assumed coverage on AEVEX in a research report on Friday, August 14th. They set a “sell (d)” rating on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $33.00 target price on shares of AEVEX in a research note on Monday, May 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of AEVEX in a research report on Thursday, August 13th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.89.

AEVEX Stock Performance

The firm has a market cap of $1.79 billion and a price-to-earnings ratio of 49.19. The company’s 50-day moving average price is $17.45. The company has a debt-to-equity ratio of 1.15, a current ratio of 5.66 and a quick ratio of 5.50.

AEVEX (NYSE:AVEX) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $201.79 million for the quarter, compared to analysts’ expectations of $155.15 million. AEVEX’s revenue was up 99.5% on a year-over-year basis. As a group, equities research analysts anticipate that AEVEX Corp. will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AVEX. Alyeska Investment Group L.P. acquired a new position in shares of AEVEX in the second quarter valued at approximately $19,903,000. Concurrent Investment Advisors LLC acquired a new stake in AEVEX in the second quarter valued at approximately $2,381,000. Readystate Asset Management LP acquired a new position in AEVEX in the 2nd quarter worth about $1,044,000. WINTON GROUP Ltd bought a new position in AEVEX in the 2nd quarter valued at approximately $343,000. Finally, HighTower Advisors LLC acquired a new position in shares of AEVEX during the second quarter worth $269,000.

About AEVEX

AEVEX Aerospace, Inc is a defense and aerospace company that develops and delivers mission-focused technologies and services for government and defense customers. Its work centers on intelligence, surveillance and reconnaissance, electronic warfare, uncrewed aircraft systems, and other specialized airborne capabilities.

The company provides engineering, aircraft modification, systems integration, training, maintenance, and operational support. Its offerings are designed to help customers collect and analyze intelligence, operate in contested electromagnetic environments, conduct airborne missions, and address emerging threats such as unmanned systems.

AEVEX serves U.S.