HighTower Advisors LLC Raises Stock Position in AIRO Group Holdings, Inc. $AIRO

HighTower Advisors LLC increased its stake in AIRO Group Holdings, Inc. (NASDAQ:AIRO) by 936.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 666,176 shares of the company’s stock after purchasing an additional 601,924 shares during the quarter. HighTower Advisors LLC’s holdings in AIRO Group were worth $5,449,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIRO. Strs Ohio purchased a new stake in AIRO Group in the third quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in AIRO Group in the second quarter worth approximately $43,000. JPMorgan Chase & Co. purchased a new stake in AIRO Group in the third quarter worth approximately $54,000. Bank of America Corp DE purchased a new stake in AIRO Group in the second quarter worth approximately $60,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in AIRO Group in the third quarter worth approximately $62,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of AIRO Group from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Zacks Research upgraded shares of AIRO Group to a “hold” rating in a report on Wednesday, April 15th. Finally, BTIG Research restated a “neutral” rating on shares of AIRO Group in a report on Wednesday, April 8th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.67.

Insider Buying and Selling at AIRO Group

In other news, CFO Mariya Pylypiv sold 20,078 shares of AIRO Group stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $10.26, for a total transaction of $206,000.28. Following the transaction, the chief financial officer owned 49,887 shares in the company, valued at $511,840.62. This trade represents a 28.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John Uczekaj sold 3,415 shares of AIRO Group stock in a transaction on Monday, April 6th. The stock was sold at an average price of $8.84, for a total transaction of $30,188.60. Following the transaction, the chief operating officer owned 20,111 shares in the company, valued at $177,781.24. This represents a 14.52% decrease in their position. 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 a total of 23,889 shares of company stock worth $240,319 in the last quarter.

AIRO Group Price Performance

Shares of AIRO Group stock opened at $7.29 on Thursday. The company’s fifty day simple moving average is $8.03 and its 200-day simple moving average is $9.35. The stock has a market capitalization of $229.27 million and a PE ratio of -15.51. AIRO Group Holdings, Inc. has a 1-year low of $5.71 and a 1-year high of $39.07.

AIRO Group (NASDAQ:AIRO) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.49) earnings per share for the quarter. The business had revenue of $8.90 million for the quarter. AIRO Group had a negative return on equity of 2.44% and a negative net margin of 19.98%. As a group, research analysts anticipate that AIRO Group Holdings, Inc. will post -0.63 EPS for the current year.

AIRO Group 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. We offer connected and diversified solutions providing operational synergies across our segments and are powered by an international footprint as well as supplier and public sector relationships.