The stock of Air Industries Group Inc (NYSEMKT:AIRI) hit a new 52-week low and has $2.41 target or 14.00% below today’s $2.80 share price. The 5 months bearish chart indicates high risk for the $21.22 million company. The 1-year low was reported on Nov, 14 by Barchart.com. If the $2.41 price target is reached, the company will be worth $2.97 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock increased 3.63% or $0.1 on November 14, hitting $2.8. About 14,095 shares traded hands or 84.13% up from the average. Air Industries Group Inc (NYSEMKT:AIRI) has declined 54.50% since April 12, 2016 and is downtrending. It has underperformed by 59.48% the S&P500.
According to Zacks Investment Research, “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.”
More notable recent Air Industries Group Inc (NYSEMKT:AIRI) news were published by: Seekingalpha.com which released: “Negative Verdict For Air Industries Group” on October 16, 2015, also Newsday.com with their article: “Air Industries, growing through deals, seeks ‘culture shift'” published on July 22, 2016, Streetinsider.com published: “Air Industries Group (AIRI) Enters 452.25k Share Private Placement for …” on May 26, 2016. More interesting news about Air Industries Group Inc (NYSEMKT:AIRI) were released by: Newsday.com and their article: “Air Industries to open production facility in Poland” published on June 13, 2016 as well as Marketwired.com‘s news article titled: “Air Industries Group (the “Company” or “Air Industries”) Announces …” with publication date: May 02, 2016.
AIRI Company Profile
Air Industries Group (AIRI), incorporated on July 9, 2013, is an aerospace and defense company. The Firm makes and creates structural parts and assemblies that focus on flight safety, including landing gear, arresting gear, engine mounts, flight controls, throttle quadrants, jet engines and other components. The Firm operates in three divisions: Complex Machining, Aerostructures and Electronics, and Turbine Engine Components. The Complex Machining segment consists of Air Industries Machining, Corp. (AIM) and Nassau Tool Works, Inc. (NTW). The Aerostructures and Electronics segment consists of Welding Metallurgy, Inc. (WMI), Woodbine Products, Inc. (WPI), Miller Stuart, Inc. (MSI), Eur-Pac Corporation (Eur-Pac), Electronic Connection Corporation (ECC) and Compac Development Corporation (Compac). The Turbine Engine Components segment consists of AMK Welding, Inc. (AMK) and The Sterling Engineering Corporation (Sterling). The Company’s Turbine Engine Components segment makes components for jet engines and ground turbines. The Firm also provides sheet metal fabrication of aerostructures, tube bending and welding services.
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