AEVEX (NYSE:AVEX) Stock Price Down 13.7% – Here’s Why

Shares of AEVEX Corp. (NYSE:AVEX) dropped 13.7% during mid-day trading on Wednesday. The company traded as low as $10.22 and last traded at $10.30. 556,583 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,183,282 shares. The stock had previously closed at $11.93.

Analysts Set New Price Targets

Several equities analysts recently commented on AVEX shares. Piper Sandler reduced their price target on AEVEX from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, October 22nd. UBS Group set a $13.00 price objective on shares of AEVEX in a research note on Thursday, October 22nd. Jefferies Financial Group restated a “buy” rating on shares of AEVEX in a research note on Thursday, October 22nd. Weiss Ratings initiated coverage on shares of AEVEX in a research note on Friday, August 14th. They set a “sell (d)” rating on the stock. Finally, Royal Bank Of Canada cut their price objective on shares of AEVEX from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.73.

AEVEX Stock Performance

The company has a market capitalization of $1.16 billion and a P/E ratio of 31.66. The company has a quick ratio of 5.50, a current ratio of 5.66 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $14.97.

AEVEX (NYSE:AVEX) last released its earnings results on Wednesday, August 12th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $201.79 million for the quarter, compared to the consensus estimate of $155.15 million. The firm’s quarterly revenue was up 99.5% on a year-over-year basis. Sell-side analysts anticipate that AEVEX Corp. will post 0.48 EPS for the current year.

Institutional Trading of AEVEX

Several hedge funds and other institutional investors have recently bought and sold shares of AVEX. Alyeska Investment Group L.P. acquired a new stake in AEVEX during the second quarter valued at approximately $19,903,000. State Street Corp acquired a new position in shares of AEVEX in the 2nd quarter worth approximately $6,885,000. Concurrent Investment Advisors LLC bought a new stake in shares of AEVEX in the 2nd quarter valued at approximately $2,381,000. Verus Capital Partners LLC increased its holdings in shares of AEVEX by 60.9% in the 3rd quarter. Verus Capital Partners LLC now owns 98,500 shares of the company’s stock valued at $1,491,000 after acquiring an additional 37,300 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new stake in shares of AEVEX during the 2nd quarter valued at approximately $1,044,000.

AEVEX Company Profile

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.