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
€161.20
0.370%
Aerovironment is currently one of the favorites of our community with 11 Buy predictions and no Sell predictions.
On the other hand, the target price of 154 € is below the current price of 161.2 € for Aerovironment, so the potential is actually -4.47%.
