CPI Aerostructures (NYSEAMERICAN:CVU) Stock Price Passes Above Two Hundred Day Moving Average of $0.00

Shares of CPI Aerostructures, Inc. (NYSEAMERICAN:CVU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.00 and traded as high as $3.65. CPI Aerostructures shares last traded at $3.56, with a volume of 28,700 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on CPI Aerostructures in a research note on Wednesday, August 23rd. They issued a “strong-buy” rating on the stock.

CPI Aerostructures Stock Performance

The firm has a market cap of $44.87 million, a price-to-earnings ratio of 4.08 and a beta of 1.83. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.41 and a current ratio of 1.47. The company’s fifty day simple moving average is $3.56.

Hedge Funds Weigh In On CPI Aerostructures

A number of institutional investors and hedge funds have recently bought and sold shares of CVU. Royce & Associates LP grew its stake in shares of CPI Aerostructures by 0.9% during the first quarter. Royce & Associates LP now owns 686,878 shares of the aerospace company’s stock valued at $2,610,000 after acquiring an additional 5,800 shares in the last quarter. Heron Bay Capital Management grew its stake in CPI Aerostructures by 30.9% during the 2nd quarter. Heron Bay Capital Management now owns 26,791 shares of the aerospace company’s stock valued at $104,000 after purchasing an additional 6,328 shares in the last quarter. NewEdge Advisors LLC grew its stake in CPI Aerostructures by 53.9% during the 1st quarter. NewEdge Advisors LLC now owns 19,671 shares of the aerospace company’s stock valued at $58,000 after purchasing an additional 6,892 shares in the last quarter. Renaissance Technologies LLC increased its holdings in CPI Aerostructures by 66.0% during the 1st quarter. Renaissance Technologies LLC now owns 31,700 shares of the aerospace company’s stock worth $120,000 after purchasing an additional 12,600 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of CPI Aerostructures in the 4th quarter valued at approximately $55,000. Hedge funds and other institutional investors own 10.84% of the company’s stock.

About CPI Aerostructures

CPI Aerostructures, Inc engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. The company also offers aerosystems, such as reconnaissance pod structures and fuel panel systems; and supplies parts for maintenance, repair, and overhaul (MRO), as well as kitting contracts.