AIRO Group (NASDAQ:AIRO) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of AIRO Group (NASDAQ:AIRO) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

AIRO has been the subject of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of AIRO Group in a report on Friday, May 29th. Mizuho decreased their price objective on AIRO Group from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, AIRO Group has an average rating of “Hold” and a consensus price target of $17.33.

AIRO Group Price Performance

NASDAQ:AIRO opened at $9.57 on Friday. The firm has a 50 day simple moving average of $7.46 and a 200-day simple moving average of $8.38. The firm has a market cap of $300.98 million, a PE ratio of -20.36 and a beta of 1.90. AIRO Group has a 1-year low of $5.71 and a 1-year high of $25.90.

AIRO Group (NASDAQ:AIRO) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter. AIRO Group had a negative net margin of 23.86% and a negative return on equity of 3.47%. The firm had revenue of $43.18 million for the quarter. As a group, sell-side analysts expect that AIRO Group will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at AIRO Group

In other news, CFO Mariya Pylypiv sold 30,028 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $7.66, for a total transaction of $230,014.48. Following the transaction, the chief financial officer directly owned 80,188 shares in the company, valued at $614,240.08. This represents a 27.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 22.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AIRO Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in AIRO Group during the second quarter worth approximately $43,000. Invesco Ltd. grew its stake in shares of AIRO Group by 1.2% during the 4th quarter. Invesco Ltd. now owns 200,630 shares of the company’s stock valued at $1,641,000 after buying an additional 2,395 shares during the period. Bank of America Corp DE purchased a new stake in shares of AIRO Group during the 2nd quarter valued at $60,000. JPMorgan Chase & Co. acquired a new stake in shares of AIRO Group during the 3rd quarter worth $54,000. Finally, Leonteq Securities AG acquired a new stake in shares of AIRO Group during the 4th quarter worth $25,000.

About AIRO Group

We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships.