AIRO Group Holdings, Inc. (NASDAQ:AIRO) Stock Has Average Price Target of $17.33 According to Brokerages

AIRO Group Holdings, Inc. (NASDAQ:AIRO) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $17.33.

Several research firms recently weighed in on AIRO. Mizuho dropped their price target on AIRO Group from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 21st. Wall Street Zen upgraded AIRO Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of AIRO Group in a report on Wednesday, August 26th.

Insider Activity

In other news, CFO Mariya Pylypiv sold 8,697 shares of AIRO Group stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $7.08, for a total transaction of $61,574.76. Following the completion of the transaction, the chief financial officer directly owned 267,333 shares in the company, valued at approximately $1,892,717.64. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO John Uczekaj sold 7,230 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $7.10, for a total value of $51,333.00. Following the completion of the sale, the chief operating officer directly owned 214,342 shares in the company, valued at approximately $1,521,828.20. This represents a 3.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 32,814 shares of company stock worth $277,049 in the last three months. 22.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of AIRO Group in the second quarter worth approximately $9,609,000. MYDA Advisors LLC purchased a new position in shares of AIRO Group in the fourth quarter worth $1,963,000. Bank of America Corp DE bought a new position in shares of AIRO Group during the second quarter valued at $1,478,000. Bank of New York Mellon Corp purchased a new stake in shares of AIRO Group during the second quarter valued at $435,000. Finally, Royal Bank of Canada raised its position in AIRO Group by 373.3% in the 1st quarter. Royal Bank of Canada now owns 63,803 shares of the company’s stock worth $485,000 after buying an additional 50,322 shares during the last quarter.

AIRO Group Stock Performance

AIRO opened at $6.15 on Friday. AIRO Group has a 52-week low of $5.71 and a 52-week high of $22.47. The stock has a market capitalization of $194.07 million, a PE ratio of -7.41 and a beta of 2.06. The stock’s 50 day moving average price is $7.56 and its 200-day moving average price is $7.64.

AIRO Group (NASDAQ:AIRO) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.06) EPS for the quarter. AIRO Group had a negative return on equity of 3.48% and a negative net margin of 23.86%.The business had revenue of $43.18 million during the quarter. Research analysts forecast that AIRO Group will post -1.04 EPS for the current fiscal year.

About AIRO Group

AIRO Group (NASDAQ: AIRO) is an aviation, aerospace and defense company that develops and provides technologies for crewed and uncrewed aircraft. Its business activities span drones and robotics, advanced air mobility, avionics and aviation training.

The company’s drone and robotics operations focus on unmanned aerial systems and related solutions for commercial, public-sector and defense applications. Its advanced air mobility business is developing electric vertical takeoff and landing aircraft, while its avionics operations provide aircraft electronics and flight-related systems.