Applied Aerospace & Defense, Inc. (NYSE:AADX) Short Interest Update

Applied Aerospace & Defense, Inc. (NYSE:AADX) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 3,166,050 shares, a growth of 94.6% from the August 15th total of 1,626,788 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,658,819 shares, the short-interest ratio is presently 1.9 days.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Robert W. Baird started coverage on shares of Applied Aerospace & Defense in a research note on Monday, June 29th. They issued an “outperform” rating and a $30.00 price target on the stock. Bank of America decreased their target price on shares of Applied Aerospace & Defense from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Morgan Stanley raised their target price on shares of Applied Aerospace & Defense from $23.00 to $24.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. UBS Group set a $24.00 price target on shares of Applied Aerospace & Defense in a research report on Sunday, June 28th. Finally, Jefferies Financial Group upgraded Applied Aerospace & Defense to a “strong-buy” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.22.

Applied Aerospace & Defense Stock Performance

Shares of AADX traded up $0.55 during midday trading on Tuesday, hitting $12.20. The company’s stock had a trading volume of 2,854,055 shares, compared to its average volume of 1,482,430. Applied Aerospace & Defense has a one year low of $11.39 and a one year high of $24.24. The company’s fifty day moving average price is $16.98.

Applied Aerospace & Defense (NYSE:AADX) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($1.05). The company had revenue of $167.32 million during the quarter. As a group, research analysts forecast that Applied Aerospace & Defense will post -0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Readystate Asset Management LP bought a new stake in shares of Applied Aerospace & Defense during the 2nd quarter valued at approximately $752,000. Squarepoint Ops LLC acquired a new position in Applied Aerospace & Defense during the 2nd quarter worth approximately $1,232,000. B. Metzler seel. Sohn & Co. AG bought a new position in Applied Aerospace & Defense in the 2nd quarter valued at approximately $3,044,000. Finally, Wellington Management Group LLP bought a new position in Applied Aerospace & Defense in the 2nd quarter valued at approximately $8,373,000.

Applied Aerospace & Defense Company Profile

Applied Aerospace and Defense Inc specializes in providing advanced design, engineering and vertically integrated manufacturing solutions for next-generation space and defense technology companies. Its core service offerings include design and analysis, fabrication and assembly and inspection, qualification and testing. Applied Aerospace and Defense Inc is based in HUNTSVILLE, United States.