AeroVironment shares fell to a new 52-week low on Tuesday, trading below their 50-day and 200-day moving averages.
The decline came despite the company recently beating quarterly earnings expectations. AeroVironment reported adjusted earnings of $0.59 per share, above the $0.22 estimate.
Recent analyst downgrades and target-price cuts, along with reports of insider share sales in recent months, appear to have weighed on the stock. Wall Street analysts maintain a consensus Moderate Buy rating.