AIRO Group (NASDAQ:AIRO) Research Coverage Started at Roth Capital

Roth Capital started coverage on shares of AIRO Group (NASDAQ:AIRO) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Mizuho dropped their price objective on AIRO Group from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of AIRO Group in a research note on Wednesday, August 26th. Finally, Wall Street Zen upgraded AIRO Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Three research 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.50.

AIRO Group Stock Performance

Shares of NASDAQ:AIRO opened at $4.78 on Tuesday. AIRO Group has a 1 year low of $4.53 and a 1 year high of $14.34. The business has a 50 day simple moving average of $6.34 and a two-hundred day simple moving average of $7.97.

AIRO Group (NASDAQ:AIRO) last released its earnings results on Thursday, August 13th. The company reported ($0.06) EPS for the quarter. AIRO Group had a negative net margin of 23.86% and a negative return on equity of 3.48%. The business had revenue of $43.18 million for the quarter. As a group, equities research analysts predict that AIRO Group will post -1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Mariya Pylypiv sold 8,697 shares of AIRO Group stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $7.08, for a total transaction of $61,574.76. Following the completion of the sale, the chief financial officer owned 267,333 shares of the company’s stock, valued at approximately $1,892,717.64. The trade was a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $9.72, for a total value of $164,141.64. Following the completion of the sale, the chief operating officer owned 221,572 shares of the company’s stock, valued at $2,153,679.84. The trade was a 7.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 32,814 shares of company stock worth $277,049. Corporate insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

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

About AIRO Group

AIRO Group Holdings, Inc is an aerospace and defense company focused on developing and delivering advanced aviation and autonomous systems. Its portfolio includes unmanned aircraft systems, electric vertical takeoff and landing (eVTOL) aircraft, electronic-warfare technologies, avionics and related training services.

The company’s unmanned systems are designed for applications such as intelligence, surveillance and reconnaissance, security, public safety and commercial operations. Its advanced air-mobility activities center on electric aircraft and associated technologies, while its electronic-warfare offerings support the detection, protection against and disruption of communications and other signals.