NEW YORK ( TheStreet) -- Aerovironment Incorporated (Nasdaq: AVAV) hit a new 52-week high Wednesday as it traded at $29.93 compared with its previous 52-Week high of $29.91. Aerovironment is changing hands at $29.81 with 8,191 shares traded as of 9:35 a.m. ET. Average volume has been 212,000 shares over the past 30 days. Aerovironment has a market cap of $615 million and is part of the industrial goods sector and aerospace/defense industry. Shares are up 10.5% year to date as of the close of trading on Tuesday.

AeroVironment, Inc. designs, develops, produces, and supports unmanned aircraft systems and efficient energy systems for various industries and governmental agencies. The company has a P/E ratio of 33.1, above the average aerospace/defense industry P/E ratio of 32.8 and above the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates Aerovironment as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Aerovironment Ratings Report.