Mizuho Cuts AIRO Group (NASDAQ:AIRO) Price Target to $25.00

AIRO Group (NASDAQ:AIRO) had its price objective decreased by stock analysts at Mizuho from $31.00 to $25.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 147.52% from the stock’s current price.

Several other equities analysts have also recently issued reports on AIRO. Wall Street Zen upgraded shares of AIRO Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of AIRO Group in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, AIRO Group has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

AIRO Group Trading Down 20.8%

Shares of AIRO opened at $10.10 on Monday. AIRO Group has a 52 week low of $9.88 and a 52 week high of $39.07. The business has a 50-day moving average of $17.79.

AIRO Group (NASDAQ:AIRO) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.28) earnings per share for the quarter. The company had revenue of $6.28 million during the quarter.

Insider Activity at AIRO Group

In related news, major shareholder New Generation Aerospace, Llc sold 405,634 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total value of $7,053,975.26. Following the completion of the sale, the insider owned 3,650,710 shares of the company’s stock, valued at approximately $63,485,846.90. The trade was a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph D. Burns sold 179,800 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $17.39, for a total transaction of $3,126,722.00. Following the transaction, the chief executive officer directly owned 1,618,202 shares in the company, valued at approximately $28,140,532.78. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,097,026 shares of company stock worth $19,077,282 in the last quarter.

Institutional Investors Weigh In On AIRO Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in AIRO. Strs Ohio purchased a new stake in shares of AIRO Group during the third quarter worth $25,000. Raymond James Financial Inc. acquired a new position in AIRO Group during the second quarter worth about $43,000. JPMorgan Chase & Co. purchased a new stake in AIRO Group during the 3rd quarter valued at about $54,000. Bank of America Corp DE purchased a new stake in AIRO Group during the 2nd quarter valued at about $60,000. Finally, Manchester Capital Management LLC acquired a new stake in AIRO Group in the 2nd quarter valued at about $86,000.

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.