AIRO Group Holdings, Inc. (NASDAQ:AIRO) Short Interest Down 67.6% in October

AIRO Group Holdings, Inc. (NASDAQ:AIRO) saw a large drop in short interest during the month of 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 company’s shares are short sold. Based on an average daily volume of 937,700 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 937,700 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.9% of the company’s shares are short sold.

Analysts Set New Price Targets

AIRO has been the topic of several analyst reports. Wall Street Zen raised shares of AIRO Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (e-)” rating on shares of AIRO Group in a report on Wednesday, October 8th. Cantor Fitzgerald set a $35.00 price target on AIRO Group and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Mizuho began coverage on AIRO Group in a research report on Tuesday, July 8th. They set an “outperform” rating and a $31.00 price target on the stock. Finally, BTIG Research began coverage on AIRO Group in a report on Tuesday, July 8th. They issued a “buy” rating and a $26.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, AIRO Group has an average rating of “Moderate Buy” and a consensus price target of $30.67.

Insider Buying and Selling at AIRO Group

In other AIRO Group news, COO John Uczekaj sold 2,225 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $38,692.75. Following the completion of the sale, the chief operating officer owned 20,030 shares in the company, valued at approximately $348,321.70. The trade was a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder New Generation Aerospace, Llc sold 405,634 shares of the company’s stock in a transaction dated 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 sale, the insider owned 3,650,710 shares of the company’s stock, valued at $63,485,846.90. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,097,026 shares of company stock worth $19,077,282 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AIRO. Ilex Capital Partners UK LLP acquired a new position in AIRO Group during the 2nd quarter worth approximately $18,750,000. HRT Financial LP acquired a new stake in AIRO Group in the second quarter valued at approximately $2,507,000. Telligent Fund LP bought a new stake in shares of AIRO Group during the second quarter worth $963,000. Norges Bank bought a new stake in shares of AIRO Group during the second quarter worth $481,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new position in shares of AIRO Group during the second quarter worth $451,000.

AIRO Group Price Performance

Shares of AIRO stock opened at $16.35 on Friday. AIRO Group has a 12-month low of $12.90 and a 12-month high of $39.07. The stock’s 50 day moving average is $19.78.

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

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.