Why AeroVironment Stock Is Flying High This Week
Drone maker AeroVironment (NASDAQ: AVAV) delivered mixed results in its most recent quarter, but provided investors with a lot to get excited about in the years to come. The markets responded positively, sending AeroVironment shares up 24% for the week, according to data provided by S&P Global Market Intelligence, as of midday Thursday.
Perhaps no defense contractor has seen its profile raised more by the war in Ukraine than AeroVironment. The company's small drones have been a key part of the U.S. aid package to Ukraine, and the technology has by and large received rave reviews on the battlefield.
The company's latest quarterly results, announced Wednesday after markets closed, reflected both the long-term promise of the business and the near-term issues AeroVironment is having in fulfilling orders. The company lost $0.10 per share in its fiscal first quarter on revenue of $108.5 million, topping the consensus for sales but falling short of the profit that analysts had expected.
Source Fool.com
