AeroVironment Sees Unusually-High Trading Volume After Better-Than-Expected Earnings (AVAV)
Shares of AeroVironment (NASDAQ:AVAV) saw strong trading volume on Tuesday following a stronger than expected earnings report, Analyst Ratings.Net reports. 842,572 shares changed hands during mid-day trading, an increase of 137% from the previous session’s volume of 354,901 shares.The stock last traded at $30.96 and had previously closed at $31.54.
The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.05. The company had revenue of $73.50 million for the quarter, compared to the consensus estimate of $69.62 million. During the same quarter last year, the company posted ($0.04) earnings per share. AeroVironment’s revenue was up 35.9% compared to the same quarter last year.
Separately, analysts at Benchmark Co. downgraded shares of AeroVironment from a “buy” rating to a “hold” rating in a research note on Tuesday, June 17th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $30.27.
The stock has a 50-day moving average of $32.45 and a 200-day moving average of $32.96. The company has a market cap of $691.1 million and a P/E ratio of 144.02.
AeroVironment, Inc designs, develops, produces and supports a portfolio of products and services. The Company operates in two segments: Unmanned Aircraft Systems (NASDAQ:AVAV) and Efficient Energy Systems (EES).
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