Zacks Investment Research Upgrades Air Industries Group (NYSEAMERICAN:AIRI) to “Hold”

Zacks Investment Research upgraded shares of Air Industries Group (NYSEAMERICAN:AIRI) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Air Industries Group Inc. is engaged in designing and manufactureing flight critical products including flight safety parts, landing gear and components, arresting gear, flight controls, sheet metal fabrications and ground support equipment. The company also offers sheet metal fabrication of aerostructures, tube bending, welding and sub-contract machining services. It serves Prime Defense and Commercial aerospace manufacturers, through its subsidiaries. Air Industries Group Inc. is headquartered in Bay Shore, New York. “

Separately, Taglich Brothers reissued a speculative buy rating on shares of Air Industries Group in a research note on Wednesday, April 7th.

NYSEAMERICAN:AIRI opened at $1.25 on Tuesday. Air Industries Group has a 1 year low of $0.94 and a 1 year high of $2.46. The stock has a fifty day simple moving average of $1.20. The company has a quick ratio of 0.43, a current ratio of 1.63 and a debt-to-equity ratio of 0.73.

Several institutional investors have recently made changes to their positions in AIRI. Essex Investment Management Co. LLC acquired a new stake in shares of Air Industries Group in the first quarter valued at $681,000. Geode Capital Management LLC lifted its holdings in shares of Air Industries Group by 236.4% in the first quarter. Geode Capital Management LLC now owns 163,800 shares of the aerospace company’s stock valued at $240,000 after buying an additional 115,103 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Air Industries Group by 65.2% in the fourth quarter. Renaissance Technologies LLC now owns 160,604 shares of the aerospace company’s stock valued at $198,000 after buying an additional 63,404 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Air Industries Group in the first quarter valued at $69,000. Finally, Northern Trust Corp lifted its holdings in shares of Air Industries Group by 76.0% in the first quarter. Northern Trust Corp now owns 43,100 shares of the aerospace company’s stock valued at $63,000 after buying an additional 18,613 shares during the period. Institutional investors and hedge funds own 8.22% of the company’s stock.

About Air Industries Group

Air Industries Group, an aerospace and defense company, designs, manufactures, and sells structural parts and assemblies for prime defense contractors in the aerospace industry in the United States. The company operates through two segments, Complex Machining and Turbine Engine Components. The Complex Machining segment offers landing gear, arresting gear, engine mounts, flight controls, throttle quadrants, and other components.

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