AeroVironment, Inc. (NASDAQ:AVAV) Sees Large Decline in Short Interest

AeroVironment, Inc. (NASDAQ:AVAV) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 744,900 shares, a decline of 23.2% from the March 15th total of 969,700 shares. Based on an average trading volume of 343,100 shares, the days-to-cover ratio is currently 2.2 days.

Insider Buying and Selling

In other AeroVironment news, VP Trace E. Stevenson sold 1,913 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $183.00, for a total value of $350,079.00. Following the completion of the sale, the vice president now directly owns 2,570 shares in the company, valued at $470,310. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Melissa Ann Brown sold 1,000 shares of AeroVironment stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $176.77, for a total transaction of $176,770.00. Following the completion of the sale, the senior vice president now directly owns 12,339 shares in the company, valued at $2,181,165.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Trace E. Stevenson sold 1,913 shares of AeroVironment stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $183.00, for a total value of $350,079.00. Following the sale, the vice president now directly owns 2,570 shares of the company’s stock, valued at approximately $470,310. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AeroVironment

A number of institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. acquired a new stake in shares of AeroVironment in the 1st quarter worth $26,000. Bfsg LLC acquired a new stake in AeroVironment during the fourth quarter worth about $25,000. Quarry LP purchased a new position in AeroVironment during the second quarter worth about $25,000. GAMMA Investing LLC acquired a new position in AeroVironment in the 4th quarter valued at about $32,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of AeroVironment in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment Price Performance

AVAV stock traded down $1.00 during trading on Monday, hitting $146.12. The stock had a trading volume of 224,733 shares, compared to its average volume of 331,389. The company’s 50-day moving average price is $142.32 and its two-hundred day moving average price is $129.44. AeroVironment has a twelve month low of $88.24 and a twelve month high of $184.61. The stock has a market capitalization of $4.11 billion, a P/E ratio of -33.90 and a beta of 0.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.66 and a quick ratio of 3.16.

AeroVironment (NASDAQ:AVAV) last released its earnings results on Monday, March 4th. The aerospace company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.30. AeroVironment had a negative net margin of 15.14% and a positive return on equity of 13.93%. The business had revenue of $186.60 million during the quarter, compared to analyst estimates of $170.62 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 38.8% compared to the same quarter last year. As a group, research analysts predict that AeroVironment will post 2.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on AVAV. Royal Bank of Canada upped their price objective on shares of AeroVironment from $160.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, April 5th. Robert W. Baird restated a “neutral” rating and issued a $161.00 price target on shares of AeroVironment in a research note on Friday, March 8th. Finally, William Blair reiterated an “outperform” rating on shares of AeroVironment in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.20.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.