AIRO Group (NASDAQ:AIRO) Raised to Sell at Wall Street Zen

AIRO Group (NASDAQ:AIRO) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of AIRO Group in a report on Friday, May 29th. Mizuho lowered their price target on AIRO Group from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $17.33.

AIRO Group Stock Performance

Shares of NASDAQ:AIRO opened at $9.57 on Friday. The company has a market cap of $300.98 million, a PE ratio of -20.36 and a beta of 1.90. AIRO Group has a 52 week low of $5.71 and a 52 week high of $25.90. The firm has a 50 day simple moving average of $7.46 and a 200 day simple moving average of $8.36.

AIRO Group (NASDAQ:AIRO) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.06) EPS for the quarter. AIRO Group had a negative return on equity of 3.48% and a negative net margin of 23.86%.The firm had revenue of $43.18 million during the quarter. On average, equities analysts predict that AIRO Group will post -1.04 earnings per share for the current year.

Insider Buying and Selling at AIRO Group

In other news, CFO Mariya Pylypiv sold 30,028 shares of AIRO Group stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $7.66, for a total transaction of $230,014.48. Following the completion of the sale, the chief financial officer directly owned 80,188 shares in the company, valued at $614,240.08. The trade was a 27.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 22.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On AIRO Group

A number of hedge funds have recently added to or reduced their stakes in AIRO. MYDA Advisors LLC acquired a new stake in AIRO Group in the fourth quarter valued at approximately $1,963,000. HighTower Advisors LLC grew its position in AIRO Group by 936.8% in the fourth quarter. HighTower Advisors LLC now owns 666,176 shares of the company’s stock worth $5,449,000 after acquiring an additional 601,924 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of AIRO Group during the 2nd quarter worth $147,000. Royal Bank of Canada increased its stake in shares of AIRO Group by 373.3% during the 1st quarter. Royal Bank of Canada now owns 63,803 shares of the company’s stock worth $485,000 after purchasing an additional 50,322 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of AIRO Group by 6.2% during the 1st quarter. First Trust Advisors LP now owns 59,580 shares of the company’s stock valued at $453,000 after purchasing an additional 3,493 shares in the last quarter.

AIRO Group Company Profile

We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships.