Tidal Investments LLC Buys 2,115 Shares of AeroVironment, Inc. (NASDAQ:AVAV)

Tidal Investments LLC grew its stake in shares of AeroVironment, Inc. (NASDAQ:AVAV) by 39.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,451 shares of the aerospace company’s stock after buying an additional 2,115 shares during the period. Tidal Investments LLC’s holdings in AeroVironment were worth $1,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVAV. Geode Capital Management LLC grew its holdings in shares of AeroVironment by 0.8% during the third quarter. Geode Capital Management LLC now owns 634,189 shares of the aerospace company’s stock worth $127,180,000 after purchasing an additional 4,948 shares in the last quarter. Barclays PLC grew its holdings in shares of AeroVironment by 149.7% during the third quarter. Barclays PLC now owns 57,245 shares of the aerospace company’s stock worth $11,477,000 after purchasing an additional 34,318 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of AeroVironment by 85.0% during the third quarter. MML Investors Services LLC now owns 4,395 shares of the aerospace company’s stock worth $881,000 after purchasing an additional 2,019 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of AeroVironment by 155.1% during the third quarter. Wellington Management Group LLP now owns 321,479 shares of the aerospace company’s stock worth $64,457,000 after purchasing an additional 195,443 shares in the last quarter. Finally, Washington Harbour Partners LP grew its holdings in shares of AeroVironment by 71.0% during the third quarter. Washington Harbour Partners LP now owns 21,200 shares of the aerospace company’s stock worth $4,251,000 after purchasing an additional 8,800 shares in the last quarter. 86.38% of the stock is currently owned by institutional investors.

AeroVironment Stock Performance

NASDAQ:AVAV opened at $164.04 on Wednesday. The firm has a market cap of $4.63 billion, a PE ratio of 94.28 and a beta of 0.45. AeroVironment, Inc. has a fifty-two week low of $116.51 and a fifty-two week high of $236.60. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.36 and a current ratio of 4.61. The business has a 50 day moving average price of $200.96 and a 200-day moving average price of $191.90.

AeroVironment (NASDAQ:AVAV) last released 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). The company had revenue of $188.46 million for the quarter, compared to analysts’ expectations of $181.80 million. AeroVironment had a net margin of 6.39% and a return on equity of 8.12%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $0.97 EPS. Equities research analysts predict that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

Analysts Set New Price Targets

AVAV has been the subject of several recent analyst reports. Alembic Global Advisors raised AeroVironment from a “neutral” rating to an “overweight” rating and set a $216.00 price objective for the company in a report on Wednesday, August 28th. Robert W. Baird raised AeroVironment from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $161.00 to $220.00 in a research note on Wednesday, August 28th. Royal Bank of Canada cut their target price on AeroVironment from $230.00 to $215.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Raymond James lowered AeroVironment from an “outperform” rating to a “market perform” rating in a research note on Monday, September 16th. Finally, Baird R W raised AeroVironment from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $225.20.

Insider Activity

In related news, CFO Kevin Patrick Mcdonnell sold 878 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $210.54, for a total transaction of $184,854.12. Following the completion of the transaction, the chief financial officer now owns 17,376 shares in the company, valued at $3,658,343.04. This represents a 4.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 1,782 shares of company stock valued at $373,609. 1.27% of the stock is currently owned by company insiders.

AeroVironment Profile

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.