Insider Selling: AeroVironment Inc. (AVAV) Insider Sells 558 Shares of Stock
AeroVironment Inc. (NASDAQ:AVAV) insider Wahid Nawabi sold 558 shares of AeroVironment stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $23.85, for a total value of $13,308.30. Following the completion of the transaction, the insider now owns 36,202 shares in the company, valued at approximately $863,417.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
AeroVironment Inc. (NASDAQ:AVAV) opened at 23.16 on Wednesday. AeroVironment Inc. has a one year low of $20.79 and a one year high of $32.44. The firm has a market capitalization of $531.66 million, a P/E ratio of 127.25 and a beta of 1.34. The firm’s 50-day moving average price is $25.08 and its 200 day moving average price is $27.72.
AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Tuesday, August 30th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.34. AeroVironment had a net margin of 1.70% and a return on equity of 1.22%. The business earned $36.20 million during the quarter, compared to analysts’ expectations of $37.81 million. During the same quarter last year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was down 23.1% compared to the same quarter last year. On average, equities analysts anticipate that AeroVironment Inc. will post $0.20 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in AVAV. Emerald Acquisition Ltd. acquired a new stake in AeroVironment during the second quarter valued at approximately $879,000. New Jersey Better Educational Savings Trust acquired a new stake in AeroVironment during the second quarter valued at approximately $556,000. California State Teachers Retirement System increased its stake in AeroVironment by 2.7% in the second quarter. California State Teachers Retirement System now owns 42,930 shares of the company’s stock valued at $1,193,000 after buying an additional 1,132 shares during the period. BNP Paribas Arbitrage SA increased its stake in AeroVironment by 44.4% in the second quarter. BNP Paribas Arbitrage SA now owns 10,707 shares of the company’s stock valued at $298,000 after buying an additional 3,291 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its stake in AeroVironment by 22.6% in the first quarter. Jacobs Levy Equity Management Inc. now owns 61,442 shares of the company’s stock valued at $1,740,000 after buying an additional 11,330 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.
AVAV has been the topic of several recent analyst reports. Jefferies Group reiterated a “hold” rating and issued a $27.00 price target (up previously from $26.00) on shares of AeroVironment in a research note on Wednesday, June 29th. Canaccord Genuity reissued a “hold” rating on shares of AeroVironment in a report on Wednesday, June 29th. Zacks Investment Research raised AeroVironment from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Tuesday, July 12th. Piper Jaffray Cos. cut their price objective on AeroVironment from $37.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, August 31st. Finally, Stifel Nicolaus reissued a “hold” rating on shares of AeroVironment in a report on Thursday, September 1st. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $28.80.
AeroVironment Company Profile
AeroVironment, Inc designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems.
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