AeroVironment, Inc. (AVAV) Overcame Worries About 'Drone Shortage,' Says Jim Cramer

AeroVironment, Inc. (NASDAQ:AVAV) is one of the Jim Cramer Says Oil Can Get Cheaper & Discusses These 12 Stocks .

AeroVironment, Inc. (NASDAQ:AVAV) is an American defense contractor that provides a variety of products such as drones, communications technologies, and software products. The firm’s shares have gained 63% year-to-date primarily on the back of a 32% gain in June. AeroVironment, Inc. (NASDAQ:AVAV)’s stock soared after the firm’s fiscal fourth-quarter earnings saw it post $1.61 in EPS and $275 million in revenue. Both these metrics beat analyst estimates of $1.39 and $242 million. In his previous remarks about the company, Cramer defended the pre-earnings weak share price performance and attributed it to market noise. This time around, he delved into a little more detail regarding the weak sentiment:

“Okay, AeroVironmnent, I think a lot people were worried about how much, you know, do they have drones, are they out of drones, who’s got the drones, the cost of drones.”

Cramer was quite optimistic about AeroVironment, Inc. (NASDAQ:AVAV) in January as well. Here is what he said:

“Oh boy, I really like it. It really is the solution, I think, in a lot of ways to a Pentagon budget that may be too bloated but needs to be more effective. I like AVAV and I gotta tell you, Wahid Nawabi, he’s been on the show and every time he’s been a star.”

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.