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AeroVironment Inc. (AVAV) Dropped To A 3-Month Low After Q3 Report

AeroVironment Inc. (AVAV) reported a third quarter loss of $0.04 per share after the bell Tuesday. The result was reduced by an estimated $0.13 per share by the Tax Relief and Jobs Act. The consensus estimate was for a profit of $0.05.

AeroVironment gapped open lower Wednesday and declined during the first 45 minutes of trade. The stock was range-bound for the rest of the session and closed down by 7.52 at $43.01 on strong volume. AeroVironment tumbled to a 3-month low.

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