AeroVironment (NASDAQ:AVAV – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.35-$1.65 for the period, compared to the consensus estimate of $1.52. The company issued revenue guidance of $490.00 million-$520.00 million, compared to the consensus revenue estimate of $509.39 million.

AeroVironment Trading Down 5.6 %

NASDAQ:AVAV opened at $82.43 on Friday. AeroVironment has a 12 month low of $52.03 and a 12 month high of $114.11. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 1,648.93 and a beta of 0.50. The company has a quick ratio of 2.70, a current ratio of 3.73 and a debt-to-equity ratio of 0.29. The company's 50 day moving average is $91.73 and its 200-day moving average is $89.52.

AeroVironment (NASDAQ:AVAV – Get Rating) last released its quarterly earnings results on Wednesday, September 7th. The aerospace company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.19). AeroVironment had a net margin of 0.31% and a return on equity of 5.39%. The firm had revenue of $108.52 million during the quarter, compared to the consensus estimate of $103.41 million. During the same period in the prior year, the business earned ($0.17) EPS. The company's revenue for the quarter was up 7.4% compared to the same quarter last year. Equities analysts anticipate that AeroVironment will post 1.56 EPS for the current year.

Analyst Ratings Changes

Insider Buying and Selling

In related news, Director Charles R. Holland sold 3,001 shares of the company's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $80.87, for a total transaction of $242,690.87. Following the transaction, the director now owns 63,000 shares in the company, valued at approximately $5,094,810. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AeroVironment news, Director Charles R. Holland sold 4,001 shares of the company's stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $84.20, for a total transaction of $336,884.20. Following the transaction, the director now directly owns 56,998 shares in the company, valued at approximately $4,799,231.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles R. Holland sold 3,001 shares of the company's stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $80.87, for a total transaction of $242,690.87. Following the transaction, the director now owns 63,000 shares in the company, valued at $5,094,810. The disclosure for this sale can be found here. Insiders have sold a total of 14,826 shares of company stock worth $1,323,206 in the last 90 days. Corporate insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Street Corp increased its stake in AeroVironment by 24.6% during the 1st quarter. State Street Corp now owns 1,350,501 shares of the aerospace company's stock worth $127,136,000 after purchasing an additional 266,607 shares in the last quarter. BlackRock Inc. increased its stake in AeroVironment by 5.2% during the 1st quarter. BlackRock Inc. now owns 3,860,339 shares of the aerospace company's stock worth $363,412,000 after purchasing an additional 192,305 shares in the last quarter. Millennium Management LLC bought a new stake in AeroVironment during the 2nd quarter worth approximately $15,640,000. Renaissance Technologies LLC acquired a new position in AeroVironment during the 2nd quarter worth approximately $8,371,000. Finally, Invesco Ltd. boosted its position in AeroVironment by 53.5% during the 1st quarter. Invesco Ltd. now owns 162,948 shares of the aerospace company's stock worth $15,339,000 after acquiring an additional 56,792 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors and hedge funds.

AeroVironment Company Profile

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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 four segments: Unmanned Aircraft Systems (UAS), Tactical Missile System (TMS), Medium Unmanned Aircraft Systems (MUAS), and High Altitude Pseudo-Satellite Systems (HAPS).

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