AeroVironment (NASDAQ:AVAV) Price Target Cut to $205.00 by Analysts at BTIG Research

AeroVironment (NASDAQ:AVAV) had its target price cut by equities research analysts at BTIG Research from $330.00 to $205.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the aerospace company’s stock. BTIG Research’s price target would suggest a potential upside of 35.47% from the stock’s previous close.

A number of other brokerages also recently issued reports on AVAV. Wall Street Zen upgraded shares of AeroVironment from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Raymond James Financial upgraded AeroVironment from an “underperform” rating to a “market perform” rating in a research report on Monday, March 23rd. Clear Str raised AeroVironment to a “strong-buy” rating in a report on Wednesday, April 29th. KeyCorp decreased their target price on AeroVironment from $330.00 to $295.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Finally, Jefferies Financial Group dropped their price target on AeroVironment from $390.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $311.83.

AeroVironment Trading Down 10.8%

Shares of AVAV opened at $151.33 on Tuesday. The firm has a market cap of $7.56 billion, a P/E ratio of -34.87, a price-to-earnings-growth ratio of 2.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.51 and a quick ratio of 4.54. AeroVironment has a 1 year low of $150.35 and a 1 year high of $417.86. The company has a 50 day simple moving average of $181.94 and a two-hundred day simple moving average of $230.11.

Insider Buying and Selling at AeroVironment

In other news, Director Stephen F. Page sold 250 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $174.41, for a total value of $43,602.50. Following the sale, the director directly owned 49,001 shares in the company, valued at $8,546,264.41. The trade was a 0.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 750 shares of company stock valued at $133,502. Insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Groupama Asset Managment purchased a new stake in AeroVironment during the third quarter valued at approximately $314,890,000. Geode Capital Management LLC boosted its holdings in shares of AeroVironment by 8.8% in the 4th quarter. Geode Capital Management LLC now owns 884,395 shares of the aerospace company’s stock worth $213,956,000 after purchasing an additional 71,903 shares during the period. Heard Capital LLC boosted its holdings in shares of AeroVironment by 48.4% in the 4th quarter. Heard Capital LLC now owns 722,150 shares of the aerospace company’s stock worth $174,681,000 after purchasing an additional 235,685 shares during the period. Van ECK Associates Corp increased its position in shares of AeroVironment by 17.4% during the 3rd quarter. Van ECK Associates Corp now owns 686,273 shares of the aerospace company’s stock valued at $216,101,000 after purchasing an additional 101,713 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AeroVironment by 15.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 614,444 shares of the aerospace company’s stock valued at $193,390,000 after buying an additional 83,322 shares during the period. Hedge funds and other institutional investors own 86.38% of the company’s stock.

AeroVironment News Summary

Here are the key news stories impacting AeroVironment this week:

• Positive Sentiment: AeroVironment recently signed an MOU with Ubiqconn Technology to collaborate on uncrewed systems and mission management capabilities, a potentially supportive long-term growth catalyst tied to Taiwan’s defense modernization. AeroVironment (AVAV) Signs MOU with Ubiqconn Technology Inc.
• Neutral Sentiment: The company is set to report Q4 earnings on June 29, and analysts are currently looking for $1.47 in EPS on $559.1 million in revenue, putting a spotlight on execution and guidance. Top Wall Street Forecasters Revamp AeroVironment Expectations Ahead Of Q4 Earnings
• Neutral Sentiment: Several law firms have announced or reminded shareholders about a securities class action and a July 27 lead-plaintiff deadline, keeping legal overhang in focus for AVAV. AeroVironment, Inc. (AVAV) Shareholders Who Lost Money Have Opportunity to Lead Securities Fraud Lawsuit
• Neutral Sentiment: AeroVironment disclosed that its Q1 loss from operations was understated by $89 million, adding another accounting-related concern for investors. AeroVironment says Q1 loss from operations understated by $89M
• Negative Sentiment: AVAV fell sharply as defense stocks came under pressure from reports of U.S.-Iran peace talks and new Chinese export curbs, which weighed on sentiment across the sector. AeroVironment Stock Dips as U.S.-Iran Peace Talks Continue
• Negative Sentiment: Multiple reports also highlighted a board shakeup after two directors resigned, adding governance uncertainty around the stock. AeroVironment board reshaped as two directors resign

About AeroVironment

AeroVironment, Inc (NASDAQ:AVAV) is a technology company specializing in unmanned aerial systems (UAS), tactical missiles and precision loitering munitions, electric vehicle charging and scalable energy systems. Headquartered in Monrovia, California, the company develops solutions for defense, public safety and commercial markets. Their offerings include small UAS for intelligence, surveillance and reconnaissance, as well as advanced weapons systems designed to meet the needs of modern military operations.

The company’s unmanned aerial systems portfolio features platforms such as the Raven, Puma and Switchblade series, which are deployed by the U.S.