AeroVironment, Inc. (NASDAQ:AVAV) Sees Large Increase in Short Interest

AeroVironment, Inc. (NASDAQ:AVAV) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 969,700 shares, an increase of 7.6% from the February 29th total of 900,800 shares. Based on an average daily trading volume, of 334,500 shares, the short-interest ratio is currently 2.9 days.

Analyst Upgrades and Downgrades

Several analysts recently commented on AVAV shares. Robert W. Baird reiterated a “neutral” rating and issued a $161.00 price target on shares of AeroVironment in a research report on Friday, March 8th. William Blair restated an “outperform” rating on shares of AeroVironment in a research report on Tuesday, March 5th. Raymond James upped their price objective on shares of AeroVironment from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, December 7th. Finally, Royal Bank of Canada upped their price objective on shares of AeroVironment from $155.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.20.

AeroVironment Stock Up 0.5 %

Shares of AeroVironment stock traded up $0.71 during mid-day trading on Wednesday, hitting $146.56. 97,239 shares of the stock were exchanged, compared to its average volume of 343,197. AeroVironment has a twelve month low of $88.24 and a twelve month high of $184.61. The company has a 50-day simple moving average of $137.62 and a 200 day simple moving average of $127.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.66 and a quick ratio of 3.16.

AeroVironment (NASDAQ:AVAV) last released its quarterly earnings results on Monday, March 4th. The aerospace company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.30. The company had revenue of $186.60 million for the quarter, compared to analysts’ expectations of $170.62 million. AeroVironment had a negative net margin of 15.14% and a positive return on equity of 13.93%. The firm’s revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. Research analysts expect that AeroVironment will post 2.8 earnings per share for the current year.

Insider Activity

In other news, SVP Melissa Ann Brown sold 1,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $176.77, for a total value of $176,770.00. Following the completion of the transaction, the senior vice president now owns 12,339 shares in the company, valued at approximately $2,181,165.03. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Melissa Ann Brown sold 1,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $176.77, for a total value of $176,770.00. Following the completion of the sale, the senior vice president now owns 12,339 shares in the company, valued at approximately $2,181,165.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Trace E. Stevenson sold 1,913 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $183.00, for a total transaction of $350,079.00. Following the completion of the sale, the vice president now owns 2,570 shares of the company’s stock, valued at approximately $470,310. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of AeroVironment during the 4th quarter worth about $3,075,000. Vanguard Group Inc. raised its holdings in AeroVironment by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 2,915,436 shares of the aerospace company’s stock valued at $367,462,000 after buying an additional 54,482 shares during the period. Wellington Management Group LLP raised its holdings in AeroVironment by 187.5% in the fourth quarter. Wellington Management Group LLP now owns 221,749 shares of the aerospace company’s stock valued at $27,949,000 after buying an additional 144,628 shares during the period. Congress Asset Management Co. MA raised its holdings in AeroVironment by 5.9% in the fourth quarter. Congress Asset Management Co. MA now owns 322,445 shares of the aerospace company’s stock valued at $40,641,000 after buying an additional 17,985 shares during the period. Finally, Virtu Financial LLC purchased a new position in AeroVironment in the fourth quarter valued at approximately $742,000. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

About AeroVironment

AeroVironment, Inc designs, develops, produces, delivers, and supports a portfolio of robotic systems and related services for government agencies and businesses in the United States and internationally. It operates through Small Unmanned Aircraft Systems (SUAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS) segments.