AerSale (NASDAQ:ASLE) Stock Gets Price Target Reduction from B. Riley Financial

AerSale (NASDAQ:ASLE) had its target price lowered by B. Riley Financial from $7.50 to $6.00 in a report published on Wednesday, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently weighed in on ASLE. Wall Street Zen cut AerSale from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Royal Bank Of Canada dropped their price objective on shares of AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of AerSale in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of AerSale from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $6.33.

AerSale Trading Up 3.0%

NASDAQ:ASLE opened at $4.83 on Wednesday. The business’s 50-day moving average is $5.19 and its two-hundred day moving average is $6.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 0.76. AerSale has a 12 month low of $4.54 and a 12 month high of $7.93. The firm has a market capitalization of $230.52 million, a PE ratio of -60.38 and a beta of 0.37.

AerSale (NASDAQ:ASLE) last issued its earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.15). AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. The company had revenue of $70.93 million during the quarter, compared to analysts’ expectations of $81.24 million. Research analysts predict that AerSale will post 0.03 earnings per share for the current fiscal year.

Institutional Trading of AerSale

A number of hedge funds and other institutional investors have recently made changes to their positions in ASLE. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of AerSale by 39.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock worth $55,000 after purchasing an additional 2,477 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in AerSale in the second quarter valued at about $65,000. State of Wyoming raised its stake in AerSale by 102.5% during the first quarter. State of Wyoming now owns 18,207 shares of the company’s stock valued at $113,000 after buying an additional 9,218 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in AerSale during the second quarter valued at approximately $115,000. Finally, Bank of America Corp DE acquired a new stake in AerSale during the second quarter valued at approximately $158,000. Institutional investors own 69.48% of the company’s stock.

About AerSale

AerSale Corporation (NASDAQ:ASLE) is an aviation aftermarket company that provides products and services to commercial airlines, aircraft leasing companies, original equipment manufacturers, government agencies and other aviation customers. The company focuses primarily on commercial aircraft and engines, including aircraft sales and leasing support, component sourcing, and related asset management services.

AerSale also operates maintenance, repair and overhaul capabilities for aircraft, engines and components.