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

AeroVironment, Inc. (NASDAQ:AVAV) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 2,880,000 shares, a growth of 18.5% from the December 31st total of 2,430,000 shares. Based on an average daily trading volume, of 441,900 shares, the days-to-cover ratio is presently 6.5 days.

AeroVironment Price Performance

Shares of AeroVironment stock traded up $8.17 during mid-day trading on Friday, reaching $180.15. 399,730 shares of the stock traded hands, compared to its average volume of 335,479. The stock has a market capitalization of $5.08 billion, a PE ratio of 103.53 and a beta of 0.50. The business has a 50-day moving average of $169.73 and a 200 day moving average of $185.82. AeroVironment has a fifty-two week low of $119.46 and a fifty-two week high of $236.60. The company has a quick ratio of 3.36, a current ratio of 4.61 and a debt-to-equity ratio of 0.02.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings data on Wednesday, December 4th. The aerospace company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.29). AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The firm had revenue of $188.46 million during the quarter, compared to analysts’ expectations of $181.80 million. During the same quarter in the previous year, the business posted $0.97 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts predict that AeroVironment will post 3.38 EPS for the current year.

Insider Activity at AeroVironment

In related news, CFO Kevin Patrick Mcdonnell sold 396 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $198.73, for a total value of $78,697.08. Following the transaction, the chief financial officer now owns 16,472 shares in the company, valued at approximately $3,273,480.56. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. acquired a new position in AeroVironment during the second quarter worth $206,000. Sei Investments Co. boosted its position in shares of AeroVironment by 3.8% during the 2nd quarter. Sei Investments Co. now owns 21,926 shares of the aerospace company’s stock valued at $3,994,000 after acquiring an additional 810 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of AeroVironment by 3.1% in the second quarter. The Manufacturers Life Insurance Company now owns 15,758 shares of the aerospace company’s stock valued at $2,870,000 after purchasing an additional 470 shares during the period. Algert Global LLC acquired a new stake in AeroVironment during the second quarter worth about $516,000. Finally, Creative Planning raised its stake in AeroVironment by 203.1% during the second quarter. Creative Planning now owns 4,077 shares of the aerospace company’s stock worth $743,000 after purchasing an additional 2,732 shares during the period. 86.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVAV. William Blair reissued an “outperform” rating on shares of AeroVironment in a report on Thursday, December 5th. Jefferies Financial Group raised shares of AeroVironment from a “hold” rating to a “buy” rating and cut their target price for the company from $240.00 to $230.00 in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $225.20.

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.