AeroVironment, Inc. (AVAV), a global company that designs, develops, produces, supports, and operates unmanned aircraft systems reported their fiscal first quarter 2018 financial results.

AeroVironment reported first quarter earnings of a loss of $0.19 per share which beat analyst expectations of a loss of $0.34 per share. AeroVironment reported first quarter revenues of $43.8 million which beat analyst expectations of $43.7 million.   

AeroVironment, Inc. CEO’s  Comments

“The AeroVironment team successfully executed our plan in the first quarter, delivering $43.8 million in revenue, a 21 percent increase over first quarter fiscal 2017, and loss per share of $0.19, a 63 percent improvement over fiscal 2017,” said Wahid Nawabi, AeroVironment president and chief executive officer. “A nine percent increase in funded backlog enhances our visibility and positions us to deliver on our fiscal 2018 goals. We remain focused on making continued progress on our long-term growth initiatives as we work to deliver results, capitalize on opportunities and create value for customers, employees and stockholders.”  Business Wire

AVAV Technical Analysis

AVAV opened trading yesterday at $38.99 which was down from the previous day’s trading close of $39.06. AVAV closed trading yesterday at $39.35 and spiked up after market to $42.99, equivalent to a 9% increase from the closing price. Taking a look at the daily chart we can see that we are in unchartered territory as with the spike up AVAV is now trading at all time highs.

Taking a closer look at the daily chart we can see that before the spike up AVAV had been in an overall downward trend dating back to June 23rd  when it traded at $30.77. AVAV has a float of 20.63 million shares and traded 1.19 times the normal daily trading volume on Tuesday.

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