AeroVironment up 8%, reaches new 52-week high
AeroVironment Inc. (Nasdaq:AVAV) is up 8% in today’s trading on above-average volume. The Monrovia, Calif.-based company, which designs and produces unmanned aircraft systems, hit a 52-week high early in the day. On Thursday last week, it was announced that the U.S. Special Operations Command had chosen AeroVironment’s Puma AE product for a one-year indefinite delivery, indefinite quantity contract, with four one-year options. The total agreement is worth up to $200 million to provide for aircraft, ground control systems and repairs, if all options are exercised. The initial delivery order is valued at $6 million.
Shares of AeroVironment are up $2.30 to $30.62 at 11:19 ET. Earlier in today's trading, shares reached $31.60, a high for the year.
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