Why AeroVironment Stock Was Soaring This Week
The past few days have been eventful for drone maker (NASDAQ: AVAV) and, consequently, there's been plenty of action in its stock. These were generally positive and helped push the company's equity up by 23% week to date as of Friday before market open.
On Tuesday, Aerovironment announced that the federal government had approved a new $20.2 million investment to expand the company's factory in Huntsville, Alabama. These funds are to be used to increase the output of its Freedom Eagle-1 (FE-1), an unmanned aircraft system missile.
Image source: Getty Images.
Source Fool.com
Aerovironment Stock
€175.95
6.660%
The stock is one of the favorites of our community with 59 Buy predictions and 1 Sell predictions.
With a target price of 270 € there is a hugely positive potential of 53.45% for Aerovironment compared to the current price of 175.95 €.
