Alpha Wave Global LP Invests $3.78 Million in AeroVironment, Inc. $AVAV

Alpha Wave Global LP purchased a new position in shares of AeroVironment, Inc. (NASDAQ:AVAV) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 13,264 shares of the aerospace company’s stock, valued at approximately $3,780,000. AeroVironment comprises 0.4% of Alpha Wave Global LP’s portfolio, making the stock its 18th biggest position.

A number of other hedge funds also recently bought and sold shares of the business. ORG Partners LLC lifted its stake in AeroVironment by 296.0% in the 2nd quarter. ORG Partners LLC now owns 99 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 74 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of AeroVironment in the second quarter valued at approximately $28,000. Bessemer Group Inc. increased its holdings in shares of AeroVironment by 60.3% in the second quarter. Bessemer Group Inc. now owns 117 shares of the aerospace company’s stock valued at $33,000 after purchasing an additional 44 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in AeroVironment by 5,200.0% during the second quarter. EverSource Wealth Advisors LLC now owns 159 shares of the aerospace company’s stock worth $45,000 after buying an additional 156 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in AeroVironment during the second quarter worth approximately $46,000. Institutional investors and hedge funds own 86.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JMP Securities upped their target price on AeroVironment from $325.00 to $400.00 and gave the company a “market outperform” rating in a report on Friday, October 3rd. BNP Paribas Exane initiated coverage on shares of AeroVironment in a research report on Tuesday, November 18th. They set an “outperform” rating and a $355.00 price target on the stock. New Street Research set a $365.00 price objective on shares of AeroVironment in a report on Wednesday, October 1st. Canaccord Genuity Group raised their price objective on shares of AeroVironment from $305.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, Jefferies Financial Group lifted their target price on shares of AeroVironment from $320.00 to $365.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $358.19.

Insider Buying and Selling

In other news, insider Trace E. Stevenson sold 1,717 shares of AeroVironment stock in a transaction on Monday, October 6th. The stock was sold at an average price of $381.00, for a total value of $654,177.00. Following the completion of the sale, the insider directly owned 4,907 shares of the company’s stock, valued at approximately $1,869,567. The trade was a 25.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin Patrick Mcdonnell sold 513 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $331.46, for a total value of $170,038.98. Following the completion of the sale, the chief financial officer owned 18,811 shares in the company, valued at $6,235,094.06. This represents a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,228 shares of company stock worth $1,223,157. 0.81% of the stock is owned by corporate insiders.

AeroVironment Stock Up 5.8%

Shares of AVAV opened at $287.45 on Friday. The company’s 50-day moving average price is $336.18 and its 200 day moving average price is $270.29. AeroVironment, Inc. has a 12-month low of $102.25 and a 12-month high of $417.86. The company has a current ratio of 5.96, a quick ratio of 5.12 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.35 billion, a P/E ratio of -449.13, a price-to-earnings-growth ratio of 3.84 and a beta of 1.13.

AeroVironment (NASDAQ:AVAV) last announced its quarterly earnings results on Monday, August 28th. The aerospace company reported $0.12 earnings per share for the quarter. AeroVironment had a negative net margin of 4.14% and a positive return on equity of 4.67%. The business had revenue of $132.62 million during the quarter. On average, sell-side analysts forecast that AeroVironment, Inc. will post 3.38 earnings per share for the current year.

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.