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Why AeroVironment Shares Lost 15% in September

·2 min read
Why AeroVironment Shares Lost 15% in September
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Shares of AeroVironment (NASDAQ: AVAV) fell 15.7% in September, according to data provided by S&P Global Market Intelligence, with nearly half of that drop occurring immediately after the drone maker released quarterly earnings, and the rest of the decline following as investors digested the results. AeroVironment is best known as the maker of backpack-size drones used by soldiers to get a better view of what lies around the corner. AeroVironment said that quarterly revenue grew 16% year over year to $101 million, topping analyst expectations by about $2 million, and the company's $0.17 per share loss in the quarter came in about $0.08 better than expectations.