Why AeroVironment's Shares Popped in August
Shares of drone and electric car charger manufacturer AeroVironment (NASDAQ: AVAV) jumped 29.7% last month, according to data provided by S&P Global Market Intelligence, after the company reported better than expected earnings for its fiscal first quarter. Revenue surged 21% to $43.8 million and net loss improved from $11.6 million a year ago to $4.5 million last quarter.
There wasn't a lot to complain about with AeroVironment's quarter. Drone revenue was up 18.9% to $36.3 million, and electric vehicle charger sales jumped 31.3% to $7.5 million. Backlog also jumped from $78 million on April 30 to $85.3 million on July 29.
Image source: Aerovironment.
Source: Fool.com
Aerovironment Stock
€134.55
-9.090%
With 57 Buy predictions and 1 Sell predictions Aerovironment is one of the favorites of our community.
As a result the target price of 256 € shows a very positive potential of 90.26% compared to the current price of 134.55 € for Aerovironment.
