Short Interest in AerSale Co. (NASDAQ:ASLE) Declines By 11.0%

AerSale Co. (NASDAQ:ASLE) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 3,790,000 shares, a decrease of 11.0% from the August 15th total of 4,260,000 shares. Based on an average trading volume of 319,000 shares, the days-to-cover ratio is currently 11.9 days. Currently, 13.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Truist Financial reduced their price target on shares of AerSale from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada decreased their target price on AerSale from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Institutional Investors Weigh In On AerSale

Institutional investors have recently made changes to their positions in the company. Trexquant Investment LP bought a new stake in AerSale in the fourth quarter worth about $190,000. Capstone Investment Advisors LLC purchased a new position in AerSale during the 4th quarter valued at $1,589,000. Ghisallo Capital Management LLC purchased a new position in AerSale during the 4th quarter valued at $875,000. Ranger Investment Management L.P. grew its position in AerSale by 57.2% in the 4th quarter. Ranger Investment Management L.P. now owns 2,278,295 shares of the company’s stock valued at $28,923,000 after acquiring an additional 828,836 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in AerSale by 38.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,684 shares of the company’s stock worth $212,000 after purchasing an additional 4,650 shares during the period. Institutional investors own 69.48% of the company’s stock.

AerSale Stock Down 1.0 %

ASLE traded down $0.05 on Wednesday, hitting $5.08. The company had a trading volume of 56,970 shares, compared to its average volume of 451,698. AerSale has a 12-month low of $4.70 and a 12-month high of $16.69. The business’s fifty day simple moving average is $5.79 and its 200 day simple moving average is $6.71. The company has a market cap of $269.29 million, a PE ratio of -518.00 and a beta of 0.23.

AerSale (NASDAQ:ASLE) last released its earnings results on Wednesday, August 7th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.15). The company had revenue of $77.10 million for the quarter, compared to the consensus estimate of $87.66 million. AerSale had a negative net margin of 0.07% and a negative return on equity of 0.95%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) EPS. On average, analysts anticipate that AerSale will post 0.17 earnings per share for the current fiscal year.

AerSale Company Profile

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).