Short Interest in AIRO Group Holdings, Inc. (NASDAQ:AIRO) Drops By 67.6%

AIRO Group Holdings, Inc. (NASDAQ:AIRO) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 570,000 shares, a drop of 67.6% from the September 30th total of 1,760,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average trading volume of 937,700 shares, the short-interest ratio is currently 0.6 days. Based on an average trading volume of 937,700 shares, the short-interest ratio is currently 0.6 days. Approximately 2.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e-)” rating on shares of AIRO Group in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of AIRO Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Cantor Fitzgerald set a $35.00 price target on shares of AIRO Group and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Mizuho assumed coverage on shares of AIRO Group in a research report on Tuesday, July 8th. They issued an “outperform” rating and a $31.00 price target for the company. Finally, BTIG Research assumed coverage on shares of AIRO Group in a research report on Tuesday, July 8th. They issued a “buy” rating and a $26.00 price target for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.67.

AIRO Group Price Performance

AIRO stock opened at $16.80 on Thursday. The business has a 50 day moving average of $19.92. AIRO Group has a 12-month low of $12.90 and a 12-month high of $39.07.

AIRO Group (NASDAQ:AIRO) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.30 earnings per share for the quarter. The business had revenue of $24.55 million for the quarter.

Insider Buying and Selling at AIRO Group

In related news, CEO Joseph D. Burns sold 179,800 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 1,618,202 shares in the company, valued at approximately $28,140,532.78. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Uczekaj sold 2,225 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $17.39, for a total transaction of $38,692.75. Following the sale, the chief operating officer owned 20,030 shares of the company’s stock, valued at $348,321.70. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,097,026 shares of company stock valued at $19,077,282.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of AIRO Group during the 2nd quarter valued at $43,000. Bank of America Corp DE acquired a new position in AIRO Group in the 2nd quarter valued at $60,000. Manchester Capital Management LLC acquired a new position in AIRO Group in the 2nd quarter valued at $86,000. Newbridge Financial Services Group Inc. acquired a new position in AIRO Group in the 2nd quarter valued at $91,000. Finally, SG Americas Securities LLC acquired a new position in AIRO Group in the 3rd quarter valued at $104,000.

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.