Pivotal-Point Tracking AeroVironment (AVAV): Drone Manufacturer Reports Order Backlog of $2.7 Billion – Analysts Confirm Buy Recommendations

AeroVironment is a leading developer of unmanned aircraft systems and tactical missiles used by military forces worldwide. On June 30, a massive price jump of around 23% triggered a technical Pivotal Point. The catalyst was outstanding results for the 4th business quarter. Revenue doubled year-over-year organically to a record high of $641.6 million and significantly exceeded expectations. The adjusted earnings per share surpassed estimates of $1.47 by approximately 25%, coming in at $1.84. The order backlog swelled to $2.7 billion thanks to new...