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Downgrade Alert for Aerovironment (AVAV)
Nov 09, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Aerovironment (NASDAQ:AVAV) was downgraded from Buy to Neutral at Goldman Sachs today. The stock closed yesterday at $21.16 on volume of 172,000 shares, above average daily volume of 145,000. In the past 52 weeks, Aerovironment share prices have been bracketed by a low of $20.98 and a high of $33.24 and closed yesterday at $21.16, 1% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.5%.
Aerovironment (NASDAQ:AVAV) has potential upside of 37.1% based on a current price of $21.16 and analysts' consensus price target of $29.00. Aerovironment shares should first meet resistance at the 50-day moving average (MA) of $23.27 and find additional resistance at the 200-day MA of $24.90.
Aerovironment Inc. designs, develops, produces and supports small unmanned aircraft systems, and fast charge systems for electric industrial vehicle batteries.
SmarTrend recommended that its subscribers protect gains by selling shares of Aerovironment on July 12th, 2012 by issuing a Downtrend alert when the shares were trading at $23.87. Since that call, shares of Aerovironment have fallen 11.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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