10 Must-Buy Non-Tech Stocks to Invest In

5. AeroVironment, Inc. (NASDAQ:AVAV)

Year to date Gain: 76.39%

Stock Upside Potential: 42.94%

Number of Hedge Fund Holdings: 31

AeroVironment, Inc. (NASDAQ:AVAV) is a must-buy non-tech stock to invest in. On November 18, BNB Paribas analyst Mathew Akers initiated coverage of the stock with an Outperform rating and a $355 price target. According to the analyst, the company remains well-positioned to benefit from various “Department of War” priorities.

Likewise, on November 20, Piper Sandler analyst Clarke Jefferies initiated coverage of the stock with a Buy rating and a $391 price target. The positive stance comes amid expectations that the company will see further growth given its ability to develop innovative products in expanding market segments. The company is making a name for itself in the development of autonomous systems for the military, including the Switchblade guided munition, which can loiter in the air and wait for a target.

On October 31, the company inked a strategic partnership with OpenJAUS, paving the way for integrating the JAUS standard into its AV_Halo Command software platform. The integration paves the way for establishing a framework that can accelerate the development of unmanned and control systems.

AeroVironment, Inc. (NASDAQ:AVAV) is a global defense technology company that designs, develops, and produces intelligent, multi-domain robotic systems for government and commercial clients. Its portfolio includes unmanned aircraft systems (UAS), loitering munitions, counter-UAS technologies, space-based platforms, and cyber and electronic warfare capabilities.