AIRO Group (NASDAQ:AIRO) Price Target Cut to $11.00 by Analysts at Mizuho

AIRO Group (NASDAQ:AIRO) had its price target decreased by analysts at Mizuho from $13.00 to $11.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 102.58% from the company’s previous close.

A number of other brokerages also recently commented on AIRO. Weiss Ratings restated a “sell (e+)” rating on shares of AIRO Group in a research note on Wednesday, August 26th. Wall Street Zen raised AIRO Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AIRO Group currently has an average rating of “Hold” and an average price target of $16.67.

AIRO Group Price Performance

Shares of AIRO Group stock opened at $5.43 on Thursday. The firm has a fifty day moving average price of $7.44 and a 200 day moving average price of $7.54. AIRO Group has a 1 year low of $5.41 and a 1 year high of $22.47. The stock has a market cap of $171.35 million, a PE ratio of -6.54 and a beta of 2.06.

AIRO Group (NASDAQ:AIRO) last posted its earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $43.18 million for the quarter. AIRO Group had a negative net margin of 23.86% and a negative return on equity of 3.48%. As a group, equities analysts expect that AIRO Group will post -1.04 EPS for the current year.

Insider Buying and Selling at AIRO Group

In related news, CFO Mariya Pylypiv sold 8,697 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $7.08, for a total value of $61,574.76. Following the completion of the transaction, the chief financial officer directly owned 267,333 shares in the company, valued at $1,892,717.64. The trade was a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Uczekaj sold 16,887 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $9.72, for a total transaction of $164,141.64. Following the sale, the chief operating officer directly owned 221,572 shares in the company, valued at $2,153,679.84. This trade represents a 7.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 32,814 shares of company stock valued at $277,049. Company insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of AIRO Group during the 2nd quarter worth about $9,609,000. Bank of America Corp DE grew its position in shares of AIRO Group by 35.4% during the 1st quarter. Bank of America Corp DE now owns 225,830 shares of the company’s stock valued at $1,717,000 after acquiring an additional 59,025 shares during the period. Royal Bank of Canada increased its stake in shares of AIRO Group by 373.3% in the 1st quarter. Royal Bank of Canada now owns 63,803 shares of the company’s stock valued at $485,000 after purchasing an additional 50,322 shares in the last quarter. First Trust Advisors LP increased its stake in shares of AIRO Group by 6.2% in the 1st quarter. First Trust Advisors LP now owns 59,580 shares of the company’s stock valued at $453,000 after purchasing an additional 3,493 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in AIRO Group in the 2nd quarter worth about $435,000.

About AIRO Group

AIRO Group (NASDAQ: AIRO) is an aviation, aerospace and defense company that develops and provides technologies for crewed and uncrewed aircraft. Its business activities span drones and robotics, advanced air mobility, avionics and aviation training.

The company’s drone and robotics operations focus on unmanned aerial systems and related solutions for commercial, public-sector and defense applications. Its advanced air mobility business is developing electric vertical takeoff and landing aircraft, while its avionics operations provide aircraft electronics and flight-related systems.