Piper Sandler Has Lowered Expectations for AirSculpt Technologies (NASDAQ:AIRS) Stock Price

AirSculpt Technologies (NASDAQ:AIRS) had its target price reduced by analysts at Piper Sandler from $7.00 to $6.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential downside of 0.83% from the company’s previous close.

Separately, BTIG Research initiated coverage on AirSculpt Technologies in a report on Thursday, October 17th. They set a “neutral” rating for the company. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $5.50.

AirSculpt Technologies Stock Up 1.2 %

Shares of AIRS opened at $6.05 on Monday. The stock has a market capitalization of $350.19 million, a price-to-earnings ratio of -43.21 and a beta of 1.71. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a fifty day moving average of $6.39 and a 200-day moving average of $5.19. AirSculpt Technologies has a 52 week low of $2.92 and a 52 week high of $9.20.

AirSculpt Technologies (NASDAQ:AIRS) last issued its quarterly earnings results on Friday, November 8th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). AirSculpt Technologies had a positive return on equity of 2.22% and a negative net margin of 4.13%. The firm had revenue of $42.55 million during the quarter, compared to analyst estimates of $42.49 million. During the same quarter last year, the firm posted ($0.01) EPS. As a group, sell-side analysts anticipate that AirSculpt Technologies will post 0.08 earnings per share for the current fiscal year.

Insider Activity at AirSculpt Technologies

In other AirSculpt Technologies news, CEO Dennis Dean sold 24,510 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.54, for a total transaction of $160,295.40. Following the completion of the sale, the chief executive officer now directly owns 582,052 shares in the company, valued at $3,806,620.08. This represents a 4.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 78.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Barclays PLC increased its position in AirSculpt Technologies by 227.0% during the 3rd quarter. Barclays PLC now owns 19,100 shares of the company’s stock valued at $97,000 after purchasing an additional 13,259 shares during the period. Geode Capital Management LLC boosted its position in shares of AirSculpt Technologies by 6.4% during the third quarter. Geode Capital Management LLC now owns 355,540 shares of the company’s stock valued at $1,803,000 after purchasing an additional 21,339 shares in the last quarter. Finally, SW Investment Management LLC grew its stake in AirSculpt Technologies by 5.0% in the second quarter. SW Investment Management LLC now owns 4,500,000 shares of the company’s stock worth $18,000,000 after purchasing an additional 213,677 shares during the period. 91.54% of the stock is owned by hedge funds and other institutional investors.

About AirSculpt Technologies

AirSculpt Technologies, Inc, together with its subsidiaries, focuses on operating as a holding company for EBS Intermediate Parent LLC that provides body contouring procedure services in the United States. The company offers AirSculpt, a next-generation body contouring procedure that removes unwanted fat and tightens skin in a minimally invasive procedure.