AeroVironment (NASDAQ:AVAV) Stock Price Down 3.3% – Here’s Why

AeroVironment, Inc. (NASDAQ:AVAV) shares fell 3.3% during mid-day trading on Monday . The stock traded as low as $140.91 and last traded at $141.46. 239,029 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 410,020 shares. The stock had previously closed at $146.33.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVAV shares. Jefferies Financial Group decreased their price objective on AeroVironment from $230.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Raymond James upgraded shares of AeroVironment from a “market perform” rating to a “strong-buy” rating and set a $200.00 target price for the company in a report on Tuesday, April 8th. William Blair reiterated an “outperform” rating on shares of AeroVironment in a research note on Wednesday, March 5th. Finally, Robert W. Baird reduced their price objective on shares of AeroVironment from $220.00 to $146.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $202.00.

AeroVironment Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 4.61 and a quick ratio of 3.36. The stock has a 50-day moving average price of $140.26 and a 200-day moving average price of $171.53. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 82.07 and a beta of 0.74.

Insiders Place Their Bets

In other news, CEO Wahid Nawabi sold 29,366 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $128.20, for a total transaction of $3,764,721.20. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $14,765,306.80. This trade represents a 20.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC grew its position in shares of AeroVironment by 120.2% in the fourth quarter. CoreCap Advisors LLC now owns 185 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 101 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of AeroVironment in the fourth quarter valued at about $31,000. Golden State Wealth Management LLC bought a new stake in shares of AeroVironment in the fourth quarter valued at about $31,000. Colonial Trust Advisors acquired a new position in shares of AeroVironment in the fourth quarter valued at about $31,000. Finally, Accredited Wealth Management LLC bought a new position in AeroVironment during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 86.38% of the company’s stock.

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.