AeroVironment, Inc. (NASDAQ:AVAV) Short Interest Update

AeroVironment, Inc. (NASDAQ:AVAV) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 744,900 shares, a decrease of 23.2% from the March 15th total of 969,700 shares. Based on an average daily volume of 343,100 shares, the days-to-cover ratio is presently 2.2 days.

Analyst Ratings Changes

AVAV has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on AeroVironment from $160.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. William Blair restated an “outperform” rating on shares of AeroVironment in a report on Tuesday, March 5th. Finally, Robert W. Baird restated a “neutral” rating and issued a $161.00 price target on shares of AeroVironment in a research note on Friday, March 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $140.20.

AeroVironment Stock Performance

Shares of AVAV traded down $1.00 during mid-day trading on Monday, hitting $146.12. The stock had a trading volume of 224,733 shares, compared to its average volume of 331,389. AeroVironment has a fifty-two week low of $88.24 and a fifty-two week high of $184.61. The company has a quick ratio of 3.16, a current ratio of 4.66 and a debt-to-equity ratio of 0.04. The company has a market cap of $4.11 billion, a PE ratio of -33.90 and a beta of 0.44. The company’s fifty day simple moving average is $142.32 and its two-hundred day simple moving average is $129.44.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings data on Monday, March 4th. The aerospace company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.30. The firm had revenue of $186.60 million during the quarter, compared to the consensus estimate of $170.62 million. AeroVironment had a negative net margin of 15.14% and a positive return on equity of 13.93%. The firm’s revenue was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, equities analysts expect that AeroVironment will post 2.8 earnings per share for the current year.

Insider Activity at AeroVironment

In related news, VP Trace E. Stevenson sold 1,913 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $183.00, for a total value of $350,079.00. Following the completion of the sale, the vice president now directly owns 2,570 shares in the company, valued at $470,310. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Trace E. Stevenson sold 1,913 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $183.00, for a total transaction of $350,079.00. Following the sale, the vice president now directly owns 2,570 shares in the company, valued at approximately $470,310. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Melissa Ann Brown sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $176.77, for a total value of $176,770.00. Following the completion of the transaction, the senior vice president now owns 12,339 shares of the company’s stock, valued at approximately $2,181,165.03. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Institutional Investors Weigh In On AeroVironment

Hedge funds have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of AeroVironment by 60.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,134 shares of the aerospace company’s stock valued at $766,000 after acquiring an additional 3,066 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of AeroVironment by 54.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,679 shares of the aerospace company’s stock worth $348,000 after purchasing an additional 1,291 shares in the last quarter. Natixis Advisors L.P. lifted its position in shares of AeroVironment by 20.3% in the first quarter. Natixis Advisors L.P. now owns 18,444 shares of the aerospace company’s stock worth $1,736,000 after purchasing an additional 3,117 shares in the last quarter. Bank of Montreal Can grew its position in AeroVironment by 14.8% during the first quarter. Bank of Montreal Can now owns 6,918 shares of the aerospace company’s stock valued at $656,000 after purchasing an additional 894 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in AeroVironment by 41.4% during the first quarter. MetLife Investment Management LLC now owns 11,831 shares of the aerospace company’s stock valued at $1,114,000 after purchasing an additional 3,466 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.

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.