CPI Aerostructures (NYSE:CVU) Downgraded to “Buy” Rating by StockNews.com

CPI Aerostructures (NYSE:CVU) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.

CPI Aerostructures Stock Down 2.3 %

NYSE:CVU traded down $0.08 during mid-day trading on Tuesday, reaching $3.45. 12,316 shares of the stock were exchanged, compared to its average volume of 53,279. The company has a 50 day moving average of $4.38. The firm has a market capitalization of $44.85 million, a PE ratio of 2.52 and a beta of 1.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.60 and a quick ratio of 1.56. CPI Aerostructures has a 1 year low of $2.16 and a 1 year high of $5.85.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new position in shares of CPI Aerostructures in the 4th quarter valued at approximately $40,000. Sanctuary Advisors LLC purchased a new position in shares of CPI Aerostructures in the 4th quarter valued at approximately $100,000. Finally, Renaissance Technologies LLC grew its stake in shares of CPI Aerostructures by 27.4% in the 4th quarter. Renaissance Technologies LLC now owns 107,000 shares of the company’s stock valued at $433,000 after purchasing an additional 23,000 shares during the last quarter. Hedge funds and other institutional investors own 25.98% of the company’s stock.

About CPI Aerostructures

CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. The company offers aerostructure and aerosystem assemblies, including new production and repair/overhaul of fielded wing structures and other control surfaces, rudder island, engine inlets/nacelles, engine exhaust manifolds, aircraft doors and windows, aircraft steps and racks, other aircraft secondary structures, airborne pod structures and integration of internal systems, radar housing structures, panel assemblies, and mechanical door locking and canopy lifting systems.