Air Industries Group (NYSEAMERICAN:AIRI) Rating Lowered to Sell at Zacks Investment Research

Air Industries Group (NYSEAMERICAN:AIRI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, 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. “

NYSEAMERICAN AIRI opened at $1.15 on Monday. Air Industries Group has a 52-week low of $0.60 and a 52-week high of $3.36.

Air Industries Group (NYSEAMERICAN:AIRI) last posted its quarterly earnings results on Monday, May 18th. The aerospace company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $13.45 million for the quarter.

In other news, Director Michael N. Taglich acquired 45,000 shares of Air Industries Group stock in a transaction dated Tuesday, April 7th. The stock was bought at an average price of $1.04 per share, for a total transaction of $46,800.00.

Hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in shares of Air Industries Group during the first quarter worth $49,000. Renaissance Technologies LLC acquired a new position in shares of Air Industries Group in the fourth quarter valued at about $150,000. EAM Investors LLC bought a new position in Air Industries Group during the fourth quarter worth about $241,000. Raymond James Financial Services Advisors Inc. bought a new position in Air Industries Group during the fourth quarter worth about $766,000. Finally, Essex Investment Management Co. LLC raised its stake in Air Industries Group by 37.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 400,837 shares of the aerospace company’s stock worth $425,000 after purchasing an additional 109,936 shares in the last quarter.

Air Industries Group Company Profile

Air Industries Group, an aerospace and defense company, designs and manufactures structural parts and assemblies that focus on flight safety. The company operates through three segments: Complex Machining, Aerostructures & Electronics, and Turbine Engine Components. It offers landing gear, arresting gear, engine mounts, flight controls, throttle quadrants, jet engines, and other components; sheet metal fabrication of aero structures; and tube bending and welding services.

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