CPI Aerostructures (NYSEAMERICAN:CVU) Share Price Passes Above 200-Day Moving Average of $0.00

Shares of CPI Aerostructures, Inc. (NYSEAMERICAN:CVU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $2.39. CPI Aerostructures shares last traded at $2.30, with a volume of 61,536 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on CPI Aerostructures in a report on Saturday, November 11th. They issued a “strong-buy” rating on the stock.

CPI Aerostructures Stock Performance

The stock has a 50-day moving average of $3.50. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.51 and a quick ratio of 1.41. The firm has a market cap of $29.14 million, a price-to-earnings ratio of 3.11 and a beta of 1.81.

CPI Aerostructures (NYSEAMERICAN:CVU) last issued its quarterly earnings results on Tuesday, November 14th. The aerospace company reported $0.02 earnings per share for the quarter. The business had revenue of $20.40 million during the quarter. CPI Aerostructures had a net margin of 10.61% and a return on equity of 154.84%.

Hedge Funds Weigh In On CPI Aerostructures

Several hedge funds have recently made changes to their positions in CVU. Millennium Management LLC acquired a new stake in shares of CPI Aerostructures during the 4th quarter worth about $55,000. NewEdge Advisors LLC boosted its stake in CPI Aerostructures by 53.9% in the 1st quarter. NewEdge Advisors LLC now owns 19,671 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 6,892 shares during the period. Renaissance Technologies LLC bought a new position in CPI Aerostructures during the 4th quarter worth $61,000. Geode Capital Management LLC bought a new stake in shares of CPI Aerostructures in the fourth quarter valued at about $77,000. Finally, Heron Bay Capital Management bought a new position in CPI Aerostructures during the first quarter worth about $78,000. 10.84% of the stock is owned by institutional investors.

CPI Aerostructures Company Profile

CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. The company also offers aerosystems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.