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Robert W. Baird downgrades AeroVironment Inc. (AVAV) stock to a Neutral

AeroVironment Inc.’s recently made public that its Sr. VP Stevenson Trace E unloaded Company’s shares for reported $0.35 million on Mar 07 ’24. In the deal valued at $183.00 per share,1,913 shares were sold. As a result of this transaction, Stevenson Trace E now holds 2,570 shares worth roughly $0.5 million.

Then, Brown Melissa Ann sold 1,000 shares, generating $176,770 in total proceeds. Upon selling the shares at $176.77, the SVP, Gen. Counsel, Corp. Sec. now owns 12,339 shares.

Before that, Shackley Brian Charles sold 475 shares. AeroVironment Inc. shares valued at $53,566 were divested by the VP, Chief Accounting Officer at a price of $112.77 per share. As a result of the transaction, Shackley Brian Charles now holds 3,222 shares, worth roughly $0.63 million.

Robert W. Baird downgraded its AeroVironment Inc. [AVAV] rating to a Neutral from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in early October from “a Strong buy” to “an Outperform”. Alembic Global Advisors also remained covering AVAV and has decreased its forecast on September 07, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. Robert W. Baird revised its rating on September 06, 2023. It rated AVAV as “an Outperform” which previously was an “a Neutral”.

Price Performance Review of AVAV

On Tuesday, AeroVironment Inc. [NASDAQ:AVAV] saw its stock jump 3.73% to $194.26. Over the last five days, the stock has gained 8.17%. AeroVironment Inc. shares have risen nearly 54.13% since the year began. Nevertheless, the stocks have risen 82.20% over the past one year. While a 52-week high of $192.49 was reached on 05/14/24, a 52-week low of $88.24 was recorded on 01/08/24. SMA at 50 days reached $158.79, while 200 days put it at $127.36. A total of 0.35 million shares were traded, compared to the trading of 0.36 million shares in the previous session.

Levels Of Support And Resistance For AVAV Stock

The 24-hour chart illustrates a support level at 188.90, which if violated will result in even more drops to 183.54. On the upside, there is a resistance level at 197.49. A further resistance level may holdings at 200.72. The Relative Strength Index (RSI) on the 14-day chart is 83.93, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 16.05, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.60%. Stochastics %K at 91.63% indicates the stock is a selling.

The most recent change occurred on June 15, 2023 when Jefferies began covering the stock and recommended ‘”a Buy”‘ rating along with a $115 price target.

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