5 Best Robotics Stocks for 2021

2. AeroVironment, Inc. (NASDAQ: AVAV)

AeroVironment, Inc. (NASDAQ: AVAV) is a California-based defense contractor. The company is primarily involved in the business of making unmanned aerial vehicles but also does other defense-related projects for the US forces. The products marketed by the company include battlefield, tactical, intelligence, surveillance, and reconnaissance drones. The firm says that it has so far delivered more than 35,000 products to 50 allied nations across the world. The firm is placed 2nd on our list of top 10 best robotics stocks for 2021. 

The firm has a market cap of more than $2.7 billion and posted more than $367 million in revenue in April 2020. Last month, the company bagged a $21 million contract for radio frequency modifications for the US Army. Earlier this month, the company announced that it had won a $11 million contract from a NATO agency for the development and delivery of three tactical unmanned air systems. The orders are part of a three-year base contract the firm won from the NATO agency in January 2020. 

At the end of quarter Q4 2020, 16 hedge funds out of 887 in the Insider Monkey database held stakes in AeroVironment Inc, the same as in Q3 2020. The total value of the shares held by these hedge funds in Q4 2020 was over $77 million, up from 49 million in the preceding quarter. Out of the hedge funds being tracked by Insider Monkey, New York-based investment management firm ARK Investment Management held the most shares – 406,726 – worth $35 million. Fisher Asset Management was 2nd with 205,988 shares worth more than $17 million.