AerSale Co. (NASDAQ:ASLE) Sees Large Decline in Short Interest

AerSale Co. (NASDAQ:ASLE) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 1,460,000 shares, a drop of 16.1% from the March 15th total of 1,740,000 shares. Based on an average daily volume of 476,700 shares, the short-interest ratio is currently 3.1 days. Approximately 4.1% of the shares of the stock are short sold.

AerSale Stock Performance

ASLE traded up $0.09 during trading on Tuesday, reaching $6.38. 101,697 shares of the company’s stock were exchanged, compared to its average volume of 398,205. The company’s fifty day moving average price is $7.40 and its 200-day moving average price is $6.54. AerSale has a fifty-two week low of $4.53 and a fifty-two week high of $9.40. The firm has a market capitalization of $339.97 million, a PE ratio of 634.63 and a beta of 0.27.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lifted their price target on shares of AerSale from $7.00 to $8.00 and gave the company a “sector perform” rating in a research report on Friday, March 7th.

Hedge Funds Weigh In On AerSale

Large investors have recently bought and sold shares of the company. M3F Inc. bought a new stake in AerSale during the fourth quarter worth $9,941,000. Private Management Group Inc. purchased a new position in AerSale in the 4th quarter worth approximately $6,994,000. Alyeska Investment Group L.P. boosted its holdings in shares of AerSale by 105.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,100,000 shares of the company’s stock worth $6,930,000 after purchasing an additional 565,017 shares during the period. Peapod Lane Capital LLC purchased a new position in AerSale during the 4th quarter valued at $2,499,000. Finally, Raffles Associates LP boosted its position in shares of AerSale by 295.7% during the fourth quarter. Raffles Associates LP now owns 455,000 shares of the company’s stock valued at $2,866,000 after purchasing an additional 340,000 shares in the last quarter. 69.48% of the stock is currently owned by institutional investors.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).