AeroVironment (NASDAQ:AVAV) Downgraded by Wall Street Zen to “Sell”

AeroVironment (NASDAQ:AVAV) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other equities analysts have also recently commented on AVAV. KeyCorp cut their target price on shares of AeroVironment from $295.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday. Needham & Company LLC decreased their price target on shares of AeroVironment from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th. Raymond James Financial raised shares of AeroVironment from an “underperform” rating to a “market perform” rating in a research report on Monday, March 23rd. Clear Str upgraded shares of AeroVironment to a “strong-buy” rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group reduced their target price on shares of AeroVironment from $330.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, March 12th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $305.33.

AeroVironment Trading Up 0.9%

AVAV opened at $137.95 on Friday. 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 has a 52 week low of $135.20 and a 52 week high of $417.86. The business’s 50 day moving average is $177.91 and its two-hundred day moving average is $226.60. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -31.79, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35.

Insiders Place Their Bets

In other AeroVironment news, Director Stephen F. Page sold 250 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $174.41, for a total transaction of $43,602.50. Following the transaction, the director owned 49,001 shares in the company, valued at approximately $8,546,264.41. The trade was a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 750 shares of company stock valued at $133,502. 0.81% of the stock is currently owned by insiders.

Institutional Trading of AeroVironment

Several hedge funds have recently modified their holdings of the business. Groupama Asset Managment purchased a new position in AeroVironment in the third quarter worth $314,890,000. Geode Capital Management LLC increased its holdings in shares of AeroVironment by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company’s stock valued at $213,956,000 after purchasing an additional 71,903 shares in the last quarter. Heard Capital LLC increased its holdings in shares of AeroVironment by 48.4% in the 4th quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company’s stock valued at $174,681,000 after purchasing an additional 235,685 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of AeroVironment by 17.4% in the third quarter. Van ECK Associates Corp now owns 686,273 shares of the aerospace company’s stock valued at $216,101,000 after purchasing an additional 101,713 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AeroVironment by 15.7% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 614,444 shares of the aerospace company’s stock worth $193,390,000 after buying an additional 83,322 shares in the last quarter. 86.38% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting AeroVironment

Here are the key news stories impacting AeroVironment this week:

• Positive Sentiment: AeroVironment appointed former Deputy Defense Secretary William J. Lynn III to its Board of Directors, a move that could strengthen governance and deepen defense-industry credibility. AV Appoints William J. Lynn III to Board of Directors
• Positive Sentiment: Piper Sandler maintained an overweight rating on AVAV even after cutting its price target, suggesting the firm still sees meaningful upside from current levels. AeroVironment price target lowered by Piper Sandler
• Neutral Sentiment: Analysts and market-commentary pieces highlighted AeroVironment as a defense stock with strong backlog and revenue-growth potential, but these were more comparative/overview articles than new company-specific catalysts. 2 Space and Defense Stocks Turning Backlogs Into Revenue Growth
• Negative Sentiment: Multiple law firms announced or reminded investors about a pending class-action lawsuit alleging securities fraud, with a lead-plaintiff deadline in late July; this cluster of legal updates is the biggest negative overhang on AVAV today. Bronstein, Gewirtz & Grossman LLC Urges AeroVironment, Inc. Investors to Act
• Negative Sentiment: BTIG sharply reduced its price target on AVAV, and other reports noted the stock has fallen more steeply than the broader market, reinforcing concerns about near-term valuation and momentum. BTIG Slashes Price Target on AeroVironment, Inc. (AVAV) by $125

AeroVironment Company Profile

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.