Price Action Report: What’s Propelling Air Industries Group Inc to Decline So Much?

Price Action Report: What's Propelling Air Industries Group Inc to Decline So Much?

The stock of Air Industries Group Inc (NYSEMKT:AIRI) is a huge mover today! About 63,851 shares traded hands or 241.71% up from the average. Air Industries Group Inc (NYSEMKT:AIRI) has declined 36.47% since April 27, 2016 and is downtrending. It has underperformed by 41.70% the S&P500.
The move comes after 9 months negative chart setup for the $31.56 million company. It was reported on Nov, 30 by Barchart.com. We have $3.41 PT which if reached, will make NYSEMKT:AIRI worth $1.58 million less.

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: Newsday.com which released: “Air Industries, growing through deals, seeks ‘culture shift'” on July 22, 2016, also Seekingalpha.com with their article: “Negative Verdict For Air Industries Group” published on October 16, 2015, Streetinsider.com published: “Air Industries Group (AIRI) Names Michael Recca CFO” on October 05, 2016. More interesting news about Air Industries Group Inc (NYSEMKT:AIRI) were released by: Streetinsider.com and their article: “Air Industries Group (AIRI) Enters 452.25k Share Private Placement for …” published on May 26, 2016 as well as Newsday.com‘s news article titled: “Air Industries to open production facility in Poland” with publication date: June 13, 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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