AirSculpt Technologies (NASDAQ:AIRS) Posts Earnings Results, Beats Expectations By $0.05 EPS

AirSculpt Technologies (NASDAQ:AIRS) issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05, RTT News reports. The firm had revenue of $33.44 million for the quarter, compared to analyst estimates of $34.93 million. AirSculpt Technologies had a negative return on equity of 14.30% and a negative net margin of 11.41%.The business’s quarterly revenue was down 14.8% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS.

AirSculpt Technologies Stock Down 5.2%

Shares of NASDAQ AIRS traded down $0.16 during mid-day trading on Tuesday, hitting $2.94. 1,400,966 shares of the stock traded hands, compared to its average volume of 6,043,599. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.51 and a current ratio of 0.51. AirSculpt Technologies has a 52 week low of $1.51 and a 52 week high of $12.00. The company has a market cap of $207.42 million, a price-to-earnings ratio of -15.47 and a beta of 2.22. The stock has a fifty day moving average price of $2.34 and a 200-day moving average price of $4.29.

Insiders Place Their Bets

In other news, major shareholder Jorey Chernett acquired 90,000 shares of the firm’s stock in a transaction on Friday, April 3rd. The stock was acquired at an average price of $2.82 per share, for a total transaction of $253,800.00. Following the completion of the acquisition, the insider owned 6,933,761 shares in the company, valued at $19,553,206.02. This trade represents a 1.32% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 690,150 shares of company stock valued at $1,658,224 over the last 90 days. 76.58% of the stock is owned by corporate insiders.

Institutional Trading of AirSculpt Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its position in AirSculpt Technologies by 20.4% during the 3rd quarter. Larson Financial Group LLC now owns 15,137 shares of the company’s stock valued at $121,000 after acquiring an additional 2,561 shares during the period. Wexford Capital LP increased its stake in shares of AirSculpt Technologies by 2.6% during the third quarter. Wexford Capital LP now owns 102,614 shares of the company’s stock valued at $823,000 after purchasing an additional 2,614 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of AirSculpt Technologies by 16.1% during the third quarter. Rhumbline Advisers now owns 20,782 shares of the company’s stock valued at $167,000 after purchasing an additional 2,876 shares during the last quarter. Creative Planning lifted its holdings in shares of AirSculpt Technologies by 32.2% during the second quarter. Creative Planning now owns 13,225 shares of the company’s stock valued at $64,000 after purchasing an additional 3,224 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of AirSculpt Technologies by 239.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,952 shares of the company’s stock worth $48,000 after purchasing an additional 4,199 shares in the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIRS has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of AirSculpt Technologies in a report on Monday, December 29th. Wall Street Zen upgraded shares of AirSculpt Technologies from a “sell” rating to a “hold” rating in a research report on Sunday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $6.00.

About AirSculpt Technologies

AirSculpt Technologies, Inc (NASDAQ: AIRS) is a medical technology company specializing in minimally invasive body contouring. The company’s flagship AirSculpt® platform combines pneumatic power with precision microcannulas to deliver fat removal, transfer and sculpting procedures. AirSculpt Technologies partners with both company-owned and franchised cosmetic surgery practices to offer a streamlined, office-based alternative to traditional liposuction.

Through its proprietary system, AirSculpt Technologies provides both consumers and medical professionals with an integrated solution that emphasizes reduced downtime, smaller incision sites, and more predictable outcomes.