It is trading at $39.73 which is marginally higher than $31.40, the stock’s 50 day moving average and a tad higher than the 200 day moving average of $28.31. The 50 day moving average moved up $8.33 and the 200 day average went up by +40.33%. (NASDAQ:AVAV) shares saw heavy trading volume with 235K shares changing hands in the last trading session. Shares saw a steep increase in trading volume of 76.73% over the normal average daily volume.
Traders are feeling more bullish of late if you put credence in the downtick in short interest. The stock realized a fall in short interest of -4.52% as of the latest report on May 31, 2017. Short interest fell from 2,448,456 to 2,337,761 over that timeframe. The days to cover decreased to 15.1 and the percentage of shorted shares is 0.10% as of May 31.
Here is the rundown on market activity for AeroVironment, Inc. (NASDAQ:AVAV). Timothy E. Conver, Director sold $1,285,760 worth of shares at a price of $39.20 on Fri the 7th. That brings the Director’s holdings to $78,193,612 per an SEC filing yesterday. Timothy E. Conver, Director disclosed the sale of 4,000 shares of AVAV stock. The shares sold for $30.99. The Director now owns $62,833,310 of the stock according to the SEC filing.
Timothy E. Conver, Director reported the sale of 4,000 shares of (AVAV). The shares were sold on June 6th for a price of $31.74. Conver now owns $64,480,921 of the stock per the Form 4 SEC filing.
These funds have also shifted positions in (AVAV). As of the end of the quarter Morgan Stanley had disposed of 1,254 shares trimming its stake by 5.9%. The value of the investment in AeroVironment, Inc. went from $574,000 to $564,000 a change of $10,000 since the last quarter. As of quarter end Goldman Sachs Group Inc had bought a total of 1,284,446 shares growing its position 15,631.6%. The value in dollars increased from $220,000 to $36,233,000 increasing 16,369.5% quarter to quarter.
As of the end of the quarter State Street Corp had bought a total of 46,070 shares growing its holdings by 8.0%. The value of the total investment in AeroVironment, Inc. went from $15,451,000 to $17,438,000 a change of 12.9% for the reporting period. As of quarter end Ark Investment Management LLC had acquired a total of 263 shares growing its stake by 0.2%. The value of the investment in AVAV went from $3,225,000 to $3,376,000 a change of $151,000 quarter over quarter.
On July 3 the company was rated “” according to a report which is down from the previous “Neutral” rating. Equity analyst starting coverage on the stock by announcing an initial rating of “Neutral” and projecting a price target of $24.00.
On October 6, 2016 Baird began coverage with an initial rating of “Neutral” and a price target of $24.00. On September 14, 2015 the stock rating was set at “Overweight” by Piper Jaffray up from the previous “Neutral” rating.
September 2 investment analysts at Jefferies maintained a stock rating of “Hold” but lowered the price target from $30.00 to $26.00. On July 9 Jefferies held the company rating at “Hold” and raised the price expectation to $30.00 from $29.00.
The company is so far trading up since yesterday’s close of $39.42. The company’s P/E ratio is 73.57 and the market cap of the company is 924.40M.
AeroVironment, Inc., launched on June 27, 2006, designs, develops, produces, supports and operates a portfolio of products and services for government agencies, businesses and consumers. The Company operates through two segments: Unmanned Aircraft Systems (UAS), which focuses primarily on the design, development, production, support and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects, and Efficient Energy Systems (EES), which focuses primarily on the design, development, production, marketing, support and operation of electric energy systems. The Company supplies UAS, tactical missile systems and related services primarily to organizations within the United States Department of Defense (DoD), including the United States Army, Marine Corps, Special Operations Command and Air Force. The Company also supplies charging systems and services for electric vehicles (EVs), and power cycling and test systems to commercial, consumer and government customers. The Business’s core technological capabilities include lightweight aerostructures; power electronics; electric propulsion systems; electric power generation, conversion and storage systems; high-density energy packaging; miniaturization; digital data links (DDL); aircraft sensors; controls integration, and systems integration and engineering optimization, hybrid propulsion, vertical takeoff fixed wing flight and autonomy..