Mizuho Issues Pessimistic Forecast for AIRO Group (NASDAQ:AIRO) Stock Price

AIRO Group (NASDAQ:AIRO) had its price target lowered by Mizuho from $16.00 to $13.00 in a research note issued on Tuesday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 81.82% from the company’s previous close.

Several other equities research analysts have also commented on the company. Zacks Research raised AIRO Group to a “hold” rating in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AIRO Group in a research note on Friday, May 29th. Wall Street Zen raised AIRO Group from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Finally, BTIG Research reiterated a “neutral” rating on shares of AIRO Group in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.33.

AIRO Group Stock Up 1.0%

Shares of NASDAQ AIRO opened at $7.15 on Tuesday. The stock has a market capitalization of $224.87 million and a price-to-earnings ratio of -15.21. AIRO Group has a 52 week low of $5.71 and a 52 week high of $25.90. The firm has a 50-day moving average price of $7.39 and a 200 day moving average price of $8.88.

AIRO Group (NASDAQ:AIRO) last issued its earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter. AIRO Group had a negative return on equity of 2.44% and a negative net margin of 19.98%.The company had revenue of $8.90 million for the quarter. Equities research analysts expect that AIRO Group will post -0.58 EPS for the current fiscal year.

Insider Transactions at AIRO Group

In other AIRO Group news, CFO Mariya Pylypiv sold 30,028 shares of AIRO Group 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 completion of the transaction, the chief financial officer owned 80,188 shares in the company, valued at approximately $614,240.08. The trade was a 27.24% decrease in their ownership of the stock. The sale 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. Insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Woodline Partners LP grew its holdings in AIRO Group by 41.0% during the 3rd quarter. Woodline Partners LP now owns 2,753,067 shares of the company’s stock valued at $52,859,000 after buying an additional 800,456 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of AIRO Group in the third quarter worth $15,030,000. HighTower Advisors LLC raised its holdings in shares of AIRO Group by 936.8% in the fourth quarter. HighTower Advisors LLC now owns 666,176 shares of the company’s stock worth $5,449,000 after acquiring an additional 601,924 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of AIRO Group by 406.0% in the third quarter. Vanguard Group Inc. now owns 505,951 shares of the company’s stock valued at $9,714,000 after acquiring an additional 405,951 shares in the last quarter. Finally, MYDA Advisors LLC purchased a new stake in shares of AIRO Group in the fourth quarter valued at $1,963,000.

AIRO Group Company Profile

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.