AeroVironment, Inc. (NASDAQ:AVAV) Sees Significant Growth in Short Interest

AeroVironment, Inc. (NASDAQ:AVAV) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 2,880,000 shares, a growth of 18.5% from the December 15th total of 2,430,000 shares. Based on an average daily volume of 441,900 shares, the days-to-cover ratio is presently 6.5 days.

Insider Buying and Selling at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the completion of the sale, the chief financial officer now owns 16,472 shares of the company’s stock, valued at $3,273,480.56. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On AeroVironment

A number of large investors have recently made changes to their positions in the business. Security National Bank acquired a new position in AeroVironment in the 3rd quarter valued at approximately $31,000. Modus Advisors LLC purchased a new position in shares of AeroVironment during the 4th quarter valued at $31,000. Canada Pension Plan Investment Board acquired a new position in shares of AeroVironment in the second quarter worth $36,000. Truvestments Capital LLC purchased a new stake in shares of AeroVironment during the third quarter worth $62,000. Finally, Avior Wealth Management LLC boosted its position in AeroVironment by 51.0% during the third quarter. Avior Wealth Management LLC now owns 394 shares of the aerospace company’s stock valued at $79,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 86.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and lowered their price target for the company from $240.00 to $230.00 in a research report on Wednesday, November 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, AeroVironment currently has a consensus rating of “Buy” and a consensus target price of $225.20.

AeroVironment Trading Up 2.0 %

Shares of AVAV stock traded up $3.35 during trading hours on Friday, reaching $168.74. 317,423 shares of the stock traded hands, compared to its average volume of 332,763. The business has a fifty day moving average price of $176.49 and a 200 day moving average price of $185.61. AeroVironment has a 1-year low of $119.46 and a 1-year high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $4.76 billion, a PE ratio of 96.98 and a beta of 0.50.

AeroVironment (NASDAQ:AVAV) last issued its earnings results on Wednesday, December 4th. The aerospace company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.29). The business had revenue of $188.46 million during the quarter, compared to analyst estimates of $181.80 million. AeroVironment had a return on equity of 8.12% and a net margin of 6.39%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. On average, equities research analysts forecast that AeroVironment will post 3.38 EPS for the current year.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.