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Aerovironment (AVAV) Back Below Key Support Following Downgrade

Yesterday, Aerovironment (AVAV) fell back below key support of the 50 and 200 day moving averages after Janney Montgomery downgraded the stock from Buy to Neutral.

Hat tip to StreetInsider.com for the following analyst comment:

“Aerovironment (AVAV) reported the first loss in its history as a public company in its fiscal 2010 first quarter (ended August 1, 2009), as the result of orders being pushed back by customers waiting for the Company’s eagerly anticipated DDL … Read the rest