Amova Asset Management Americas Inc. Sells 17,447 Shares of AeroVironment, Inc. $AVAV

Amova Asset Management Americas Inc. lessened its holdings in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 8.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 199,824 shares of the aerospace company’s stock after selling 17,447 shares during the period. Amova Asset Management Americas Inc.’s holdings in AeroVironment were worth $48,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ARK Investment Management LLC boosted its position in shares of AeroVironment by 28.9% in the third quarter. ARK Investment Management LLC now owns 400,457 shares of the aerospace company’s stock valued at $126,100,000 after acquiring an additional 89,697 shares during the period. State of Michigan Retirement System bought a new position in shares of AeroVironment in the third quarter valued at approximately $2,393,000. F m Investments LLC bought a new position in shares of AeroVironment in the fourth quarter valued at approximately $1,775,000. Keystone Investors PTE Ltd. bought a new position in shares of AeroVironment in the third quarter valued at approximately $2,355,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in AeroVironment by 92.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,173 shares of the aerospace company’s stock valued at $5,168,000 after purchasing an additional 9,675 shares during the last quarter. Institutional investors own 86.38% of the company’s stock.

AeroVironment Stock Down 4.4%

Shares of NASDAQ AVAV opened at $176.51 on Wednesday. The company has a quick ratio of 4.54, a current ratio of 5.51 and a debt-to-equity ratio of 0.17. AeroVironment, Inc. has a 52 week low of $156.00 and a 52 week high of $417.86. The firm’s fifty day moving average is $184.53 and its 200 day moving average is $236.73. The company has a market cap of $8.81 billion, a price-to-earnings ratio of -40.67, a PEG ratio of 2.53 and a beta of 1.35.

AeroVironment (NASDAQ:AVAV) last issued its quarterly earnings data on Tuesday, March 10th. The aerospace company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). The company had revenue of $408.05 million for the quarter, compared to analysts’ expectations of $487.94 million. AeroVironment had a negative net margin of 13.93% and a positive return on equity of 3.26%. The firm’s revenue for the quarter was up 143.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. On average, equities research analysts expect that AeroVironment, Inc. will post 2.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AVAV shares. UBS Group dropped their target price on shares of AeroVironment from $259.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, March 11th. JPMorgan Chase & Co. started coverage on shares of AeroVironment in a research report on Tuesday, February 17th. They set an “overweight” rating and a $320.00 target price for the company. BTIG Research dropped their target price on shares of AeroVironment from $415.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, March 12th. Citizens Jmp dropped their target price on shares of AeroVironment from $400.00 to $350.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 11th. Finally, Clear Str upgraded shares of AeroVironment to a “strong-buy” rating in a research report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.78.

Key AeroVironment News

Here are the key news stories impacting AeroVironment this week:

• Positive Sentiment: AeroVironment expanded deployment of its connected-vehicle traffic information platform, which suggests ongoing commercial traction and product adoption. AeroVironment expands deployment of connected-vehicle traffic information platform
• Neutral Sentiment: Short-interest data showed 0 shares reported as of June 9, so the update does not provide a meaningful trading signal.
• Negative Sentiment: Glancy Prongay Wolke & Rotter LLP reminded investors of the July 27 lead-plaintiff deadline in the AVAV securities-fraud class action, keeping legal risk in focus. Deadline Alert: AeroVironment, Inc. (AVAV) Shareholders Who Lost Money Urged To Contact Glancy Prongay Wolke Rotter LLP About Securities Fraud Lawsuit
• Negative Sentiment: Pomerantz LLP said it filed a class action against AeroVironment and certain officers, reinforcing concerns about alleged securities-law violations. Pomerantz Law Firm Announces the Filing of a Class Action Against AeroVironment, Inc. and Certain Officers – AVAV
• Negative Sentiment: Additional law firms, including Bronstein Gewirtz & Grossman, Faruqi & Faruqi, The Gross Law Firm, Rosen, Robbins, Schall, DJS, and Levi & Korsinsky, continued promoting the AVAV shareholder lawsuit, amplifying the litigation headline risk.
• Negative Sentiment: The lawsuits reference corrective disclosures and alleged harm tied to the SCAR program collapse, which could raise concerns about operational execution and prior disclosures. AVAV Shareholder Alert: AeroVironment, Inc. Securities Class Action Lawsuit

Insiders Place Their Bets

In other news, Director Stephen F. Page sold 250 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $162.31, for a total transaction of $40,577.50. Following the sale, the director owned 49,251 shares in the company, valued at approximately $7,993,929.81. The trade was a 0.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Brian Charles Shackley sold 200 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $212.52, for a total transaction of $42,504.00. Following the sale, the chief accounting officer owned 5,794 shares in the company, valued at approximately $1,231,340.88. This trade represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 950 shares of company stock worth $185,534. Company insiders own 0.81% of the company’s stock.

About AeroVironment

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.