Posted by admin on May 14th, 2022
Zacks Investment Research downgraded shares of Air Industries Group (NYSEAMERICAN:AIRI – Get Rating) from a hold rating to a sell rating in a research note published on Friday, Zacks.com reports.
According to Zacks, “Air Industries Group Inc. is engaged in designing and manufactureing flight critical products including flight safety parts, landing gear and components, arresting gear, flight controls, sheet metal fabrications and ground support equipment. The company also offers sheet metal fabrication of aerostructures, tube bending, welding and sub-contract machining services. It serves Prime Defense and Commercial aerospace manufacturers, through its subsidiaries. Air Industries Group Inc. is headquartered in Bay Shore, New York. “
AIRI stock traded up $0.02 during trading on Friday, hitting $0.68. 40,041 shares of the company’s stock traded hands, compared to its average volume of 201,268. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.71 and a quick ratio of 0.48. Air Industries Group has a 1 year low of $0.65 and a 1 year high of $1.44.
Air Industries Group (NYSEAMERICAN:AIRI – Get Rating) last issued its quarterly earnings data on Friday, March 25th. The aerospace company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $15.42 million for the quarter, compared to analyst estimates of $15.80 million. Air Industries Group had a net margin of 3.65% and a return on equity of 15.30%. Sell-side analysts expect that Air Industries Group will post 0.02 EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp acquired a new stake in shares of Air Industries Group during the second quarter worth $33,000. Virtu Financial LLC raised its holdings in shares of Air Industries Group by 142.6% during the fourth quarter. Virtu Financial LLC now owns 30,761 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 18,082 shares during the last quarter. Richmond Brothers Inc. purchased a new position in shares of Air Industries Group during the fourth quarter worth $2,242,000. Finally, Columbia Advisory Partners LLC purchased a new position in shares of Air Industries Group during the fourth quarter worth $96,000. Institutional investors own 16.85% of the company’s stock.
About Air Industries Group (Get Rating)
Air Industries Group, an aerospace and defense company, designs, manufactures, and sells structural parts and assemblies for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense in the United States. The company operates through two segments, Complex Machining and Turbine and Engine Component.
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