Short Interest in Applied Aerospace & Defense, Inc. (NYSE:AADX) Rises By ∞

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 1,213,308 shares, an increase of ∞ from the May 31st total of 0 shares. Based on an average daily trading volume, of 3,543,136 shares, the short-interest ratio is currently 0.3 days. Approximately 0.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

AADX has been the topic of several research reports. Wolfe Research assumed coverage on Applied Aerospace & Defense in a research report on Monday. They issued an “outperform” rating and a $23.00 target price on the stock. Robert W. Baird initiated coverage on Applied Aerospace & Defense in a research report on Monday. They set an “outperform” rating and a $30.00 price target for the company. Stifel Nicolaus began coverage on Applied Aerospace & Defense in a research note on Monday. They set a “buy” rating and a $24.00 price target for the company. UBS Group set a $24.00 price objective on Applied Aerospace & Defense in a report on Sunday. Finally, Royal Bank Of Canada started coverage on Applied Aerospace & Defense in a research note on Monday. They issued a “moderate buy” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $24.62.

Applied Aerospace & Defense Stock Up 8.9%

Shares of AADX opened at $22.57 on Wednesday. Applied Aerospace & Defense has a 12 month low of $17.08 and a 12 month high of $23.00.

Insiders Place Their Bets

In related news, CFO Jeffrey L. Mcrae bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were acquired at an average cost of $20.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the chief financial officer owned 25,000 shares of the company’s stock, valued at approximately $500,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan D. Lynch bought 8,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average price of $20.00 per share, with a total value of $160,000.00. Following the completion of the acquisition, the director owned 8,000 shares of the company’s stock, valued at $160,000. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 58,500 shares of company stock valued at $1,170,000.