AIRO Group Holdings, Inc. (NASDAQ:AIRO) Sees Large Drop in Short Interest

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

Insider Transactions at AIRO Group

In other news, COO John Uczekaj sold 2,225 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $17.39, for a total value of $38,692.75. Following the completion of the sale, the chief operating officer directly owned 20,030 shares of the company’s stock, valued at approximately $348,321.70. The trade was a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joseph D. Burns sold 179,800 shares of the business’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 $3,126,722.00. Following the completion of the sale, the chief executive officer directly owned 1,618,202 shares of the company’s stock, valued at $28,140,532.78. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,097,026 shares of company stock valued at $19,077,282 over the last quarter.

Institutional Investors Weigh In On AIRO Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of AIRO Group in the 3rd quarter worth approximately $104,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of AIRO Group in the 2nd quarter worth approximately $91,000. HRT Financial LP acquired a new stake in shares of AIRO Group in the 2nd quarter worth approximately $2,507,000. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of AIRO Group in the 2nd quarter worth approximately $451,000. Finally, Bank of America Corp DE acquired a new stake in shares of AIRO Group in the 2nd quarter worth approximately $60,000.

AIRO Group Stock Performance

NASDAQ AIRO opened at $16.82 on Wednesday. The stock’s 50 day simple moving average is $20.03. 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 earnings results on Wednesday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter. The business had revenue of $24.55 million for the quarter.

Analyst Upgrades and Downgrades

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

AIRO Group Company Profile

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.