CPI Aerostructures (NYSE:CVU) Trading Down 1.8% – Here’s Why

CPI Aerostructures, Inc. (NYSE:CVU)’s stock price was down 1.8% during mid-day trading on Friday . The company traded as low as $4.20 and last traded at $4.40. Approximately 312,705 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 265,082 shares. The stock had previously closed at $4.48.

CPI Aerostructures Stock Down 1.8%

The firm has a market cap of $58.01 million, a price-to-earnings ratio of 3.21 and a beta of 0.99. The firm has a 50 day moving average of $3.06 and a 200 day moving average of $2.93. The company has a quick ratio of 1.56, a current ratio of 1.60 and a debt-to-equity ratio of 0.62.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. bought a new position in CPI Aerostructures during the first quarter worth $115,000. Thompson Davis & CO. Inc. bought a new stake in CPI Aerostructures in the second quarter valued at $45,000. Finally, Evergreen Capital Management LLC bought a new stake in CPI Aerostructures in the second quarter valued at $63,000. Institutional investors and hedge funds own 25.98% of the company’s stock.

About CPI Aerostructures

CPI Aerostructures, Inc operates as a precision manufacturer of complex aerostructure and structural components for commercial, regional, military and business jet aircraft markets. The company specializes in design, engineering, prototyping and production of metallic and composite assemblies, including wing ribs and panels, floor beams, flight control surfaces, fuselage sections and other structural subassemblies. It leverages advanced machining centers, automated fabrication processes and in-house tool design to deliver parts that meet stringent aerospace specifications.

In addition to fabrication and assembly, CPI Aerostructures provides comprehensive aftermarket support through maintenance, repair and overhaul (MRO) services.