AVAV - Why Shares in AeroVironment Surged Higher This Week
2024-03-08 08:01:43 ET
Shares in drone manufacturer AeroVironment (NASDAQ: AVAV) rose a remarkable 38% in the week to Friday morning, according to data provided by S&P Global Market Intelligence . There's little debate over the reason for the move; it came from its third-quarter 2024 earnings report released on Monday.
AeroVironment's fiscal year finishes at the end of April.The company raised revenue guidance on every single earnings call through its financial year -- a testament to the strengthening demand environment for its unmanned systems.
The chart below shows the company's full-year 2024 guidance throughout the last fiscal year.
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Why Shares in AeroVironment Surged Higher This Week