AEVEX (NYSE:AVEX) Hits New 12-Month Low – Here’s Why

AEVEX Corp. (NYSE:AVEX)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $10.84 and last traded at $10.84, with a volume of 488,864 shares traded. The stock had previously closed at $14.34.

Wall Street Analyst Weigh In

AVEX has been the topic of several analyst reports. Weiss Ratings assumed coverage on shares of AEVEX in a research report on Friday, August 14th. They issued a “sell (d)” rating on the stock. Jefferies Financial Group assumed coverage on shares of AEVEX in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $26.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of AEVEX in a research report on Thursday, August 13th. Piper Sandler assumed coverage on shares of AEVEX in a research report on Wednesday, September 2nd. They set a “neutral” rating and a $20.00 target price for the company. Finally, Royal Bank Of Canada dropped their price target on AEVEX from $31.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 12th. Nine 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.56.

AEVEX Stock Performance

The firm has a 50-day moving average of $16.56. The firm has a market cap of $1.37 billion and a P/E ratio of 37.62. The company has a current ratio of 5.66, a quick ratio of 5.50 and a debt-to-equity ratio of 1.15.

AEVEX (NYSE:AVEX) last announced its earnings results on Wednesday, August 12th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $201.79 million for the quarter, compared to analysts’ expectations of $155.15 million. The business’s quarterly revenue was up 99.5% compared to the same quarter last year. As a group, equities research analysts predict that AEVEX Corp. will post 0.51 EPS for the current fiscal year.

Hedge Funds Weigh In On AEVEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. acquired a new stake in AEVEX during the 2nd quarter worth approximately $19,903,000. State Street Corp acquired a new position in AEVEX in the second quarter valued at $6,885,000. Concurrent Investment Advisors LLC acquired a new stake in AEVEX during the 2nd quarter worth about $2,381,000. Readystate Asset Management LP acquired a new position in shares of AEVEX in the 2nd quarter valued at about $1,044,000. Finally, WINTON GROUP Ltd bought a new stake in shares of AEVEX during the 2nd quarter valued at about $343,000.

About AEVEX

AEVEX Aerospace, Inc is a defense technology company that develops and delivers advanced systems and mission solutions for national security customers. Its work focuses on intelligence, surveillance and reconnaissance (ISR), special operations, unmanned systems, electronic warfare, and other complex aerospace and defense missions.

The company provides missionized aircraft and unmanned aerial systems, payloads, sensors, communications equipment, data and intelligence capabilities, and related engineering and integration services.