AIRO Group (NASDAQ:AIRO) Trading Down 4.2% on Insider Selling

Shares of AIRO Group Holdings, Inc. (NASDAQ:AIRO) were down 4.2% on Wednesday following insider selling activity. The stock traded as low as $18.99 and last traded at $19.00. Approximately 705,073 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,432,653 shares. The stock had previously closed at $19.83.

Specifically, COO John Uczekaj sold 2,225 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total value of $38,692.75. Following the completion of the transaction, the chief operating officer owned 20,030 shares in the company, valued at approximately $348,321.70. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Joseph D. Burns sold 179,800 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $3,126,722.00. Following the completion of the transaction, the chief executive officer owned 1,618,202 shares of the company’s stock, valued at approximately $28,140,532.78. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In other news, major shareholder New Generation Aerospace, Llc sold 405,634 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total value of $7,053,975.26. Following the completion of the transaction, the insider owned 3,650,710 shares in the company, valued at approximately $63,485,846.90. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AIRO shares. BTIG Research started coverage on shares of AIRO Group in a research note on Tuesday, July 8th. They issued a “buy” rating and a $26.00 price objective for the company. Mizuho began coverage on shares of AIRO Group in a research report on Tuesday, July 8th. They set an “outperform” rating and a $31.00 target price for the company. Wall Street Zen upgraded shares of AIRO Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Finally, Cantor Fitzgerald set a $35.00 target price on shares of AIRO Group and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $30.67.

AIRO Group Stock Performance

The company’s fifty day moving average is $22.44.

AIRO Group (NASDAQ:AIRO) last posted its quarterly earnings data on Wednesday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. acquired a new position in AIRO Group during the second quarter worth about $91,000. HRT Financial LP acquired a new position in shares of AIRO Group in the second quarter valued at approximately $2,507,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of AIRO Group in the second quarter valued at approximately $451,000. Bank of America Corp DE acquired a new position in shares of AIRO Group in the second quarter valued at approximately $60,000. Finally, Raymond James Financial Inc. bought a new stake in AIRO Group in the second quarter valued at approximately $43,000.

About AIRO Group

We are a technologically differentiated aerospace, autonomy, and air mobility platform targeting 21st century aerospace and defense opportunities. We leverage decades of industry expertise and connections across the drone, aviation, and avionics markets to provide leading solutions to the aerospace and defense market.