AeroVironment, Inc. (NASDAQ:AVAV) Sees Large Increase in Short Interest

AeroVironment, Inc. (NASDAQ:AVAV) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 2,430,000 shares, a growth of 48.2% from the November 30th total of 1,640,000 shares. Based on an average trading volume of 446,400 shares, the days-to-cover ratio is presently 5.4 days.

Insider Buying and Selling

In related news, CFO Kevin Patrick Mcdonnell sold 508 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $216.65, for a total value of $110,058.20. Following the transaction, the chief financial officer now owns 16,868 shares in the company, valued at approximately $3,654,452.20. This represents a 2.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 1,782 shares of company stock worth $373,609. 1.27% of the stock is owned by company insiders.

Institutional Trading of AeroVironment

Large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in AeroVironment by 29.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 27,259 shares of the aerospace company’s stock worth $4,965,000 after buying an additional 6,219 shares during the period. International Assets Investment Management LLC purchased a new stake in AeroVironment in the second quarter worth $243,000. Rothschild Investment LLC bought a new position in AeroVironment in the second quarter worth $330,000. Legacy Advisors LLC lifted its position in AeroVironment by 1.3% during the second quarter. Legacy Advisors LLC now owns 13,446 shares of the aerospace company’s stock valued at $2,449,000 after buying an additional 167 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of AeroVironment by 1.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 4,609 shares of the aerospace company’s stock valued at $840,000 after buying an additional 66 shares in the last quarter. 86.38% of the stock is owned by institutional investors.

AeroVironment Price Performance

AVAV stock traded down $4.53 during midday trading on Monday, reaching $153.13. The company had a trading volume of 39,300 shares, compared to its average volume of 371,170. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The company has a market capitalization of $4.32 billion, a P/E ratio of 88.01 and a beta of 0.45. The firm has a 50-day moving average price of $192.36 and a 200-day moving average price of $189.51. AeroVironment has a 1 year low of $116.51 and a 1 year high of $236.60.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.29). AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The company had revenue of $188.46 million during the quarter, compared to the consensus estimate of $181.80 million. During the same quarter in the previous year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts anticipate that AeroVironment will post 3.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on AVAV shares. BTIG Research restated a “buy” rating and issued a $245.00 price objective on shares of AeroVironment in a research note on Tuesday, September 17th. Royal Bank of Canada cut their price objective on shares of AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Jefferies Financial Group upgraded AeroVironment from a “hold” rating to a “buy” rating and dropped their target price for the stock from $240.00 to $230.00 in a research report on Wednesday, November 20th. William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. Finally, Raymond James lowered AeroVironment from an “outperform” rating to a “market perform” rating in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $225.20.

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.