Mizuho Issues Pessimistic Forecast for AIRO Group (NASDAQ:AIRO) Stock Price

AIRO Group (NASDAQ:AIRO) had its price target lowered by Mizuho from $16.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 91.74% from the stock’s previous close.

A number of other analysts have also commented on AIRO. Wall Street Zen raised shares of AIRO Group from a “strong sell” rating to a “sell” rating in a report on Saturday, June 13th. Zacks Research raised shares of AIRO Group to a “hold” rating in a research report on Wednesday, April 15th. BTIG Research reaffirmed a “neutral” rating on shares of AIRO Group in a research report on Wednesday, April 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of AIRO Group in a report on Friday, May 29th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.33.

AIRO Group Stock Performance

Shares of AIRO stock opened at $6.78 on Tuesday. The stock’s fifty day moving average is $7.42 and its 200-day moving average is $8.90. AIRO Group has a 52 week low of $5.71 and a 52 week high of $25.90. The stock has a market capitalization of $213.23 million and a PE ratio of -14.43.

AIRO Group (NASDAQ:AIRO) last announced its earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share (EPS) for the quarter. The company had revenue of $8.90 million for the quarter. AIRO Group had a negative return on equity of 2.44% and a negative net margin of 19.98%. As a group, analysts forecast that AIRO Group will post -0.63 earnings per share for the current fiscal year.

Insider Transactions at AIRO Group

In other AIRO Group news, CFO Mariya Pylypiv sold 30,028 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $7.66, for a total value of $230,014.48. Following the completion of the sale, the chief financial officer owned 80,188 shares in the company, valued at $614,240.08. This trade represents a 27.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 22.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in AIRO Group in the 2nd quarter valued at about $43,000. Bank of America Corp DE bought a new position in AIRO Group during the second quarter worth about $60,000. JPMorgan Chase & Co. acquired a new position in AIRO Group during the third quarter worth approximately $54,000. Leonteq Securities AG acquired a new position in AIRO Group during the fourth quarter worth approximately $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in AIRO Group in the third quarter valued at approximately $62,000.

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.