Applied Aerospace & Defense, Inc. (NYSE:AADX) Short Interest Up 119.5% in June

Applied Aerospace & Defense, Inc. (NYSE:AADX) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 2,663,604 shares, a growth of 119.5% from the June 15th total of 1,213,308 shares. Based on an average trading volume of 1,296,722 shares, the days-to-cover ratio is presently 2.1 days. Approximately 1.6% of the shares of the company are sold short.

Insider Buying and Selling

In other Applied Aerospace & Defense news, CFO Jeffrey L. Mcrae bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the acquisition, the chief financial officer owned 25,000 shares of the company’s stock, valued at $500,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James C. Katzman purchased 25,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $500,000.00. Following the purchase, the director owned 29,250 shares in the company, valued at $585,000. This trade represents a 588.24% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 58,500 shares of company stock valued at $1,170,000.

Wall Street Analyst Weigh In

AADX has been the topic of several research reports. Robert W. Baird began coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued an “outperform” rating and a $30.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They set a “buy” rating and a $24.00 target price for the company. Wolfe Research assumed coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They set an “outperform” rating and a $23.00 target price for the company. Royal Bank Of Canada began coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They issued a “moderate buy” rating and a $24.00 price target on the stock. Finally, Bank of America started coverage on shares of Applied Aerospace & Defense in a report on Monday, June 29th. They issued a “buy” rating and a $24.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Applied Aerospace & Defense currently has a consensus rating of “Moderate Buy” and an average target price of $24.62.

Applied Aerospace & Defense Trading Down 9.3%

AADX opened at $17.23 on Friday. Applied Aerospace & Defense has a 1 year low of $17.07 and a 1 year high of $24.24.