AerSale (NASDAQ:ASLE) Shares Down 1.8% – Should You Sell?

AerSale Corporation (NASDAQ:ASLE) shares fell 1.8% on Monday. The company traded as low as $4.89 and last traded at $4.95. 932,432 shares were traded during mid-day trading, an increase of 111% from the average session volume of 441,425 shares. The stock had previously closed at $5.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Zacks Research downgraded AerSale from a “hold” rating to a “strong sell” rating in a report on Thursday, August 27th. Wall Street Zen lowered shares of AerSale from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial began coverage on shares of AerSale in a research note on Monday, June 29th. They set a “neutral” rating and a $7.50 target price for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a report on Wednesday, August 12th. Finally, Royal Bank Of Canada decreased their price target 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. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $6.83.

AerSale Trading Down 3.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 0.76. The business’s 50-day moving average is $5.63 and its 200 day moving average is $6.14. The firm has a market capitalization of $229.82 million, a P/E ratio of -60.17 and a beta of 0.37.

AerSale (NASDAQ:ASLE) last announced its earnings results on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $70.93 million for the quarter, compared to analyst estimates of $81.24 million. As a group, analysts anticipate that AerSale Corporation will post 0.03 EPS for the current fiscal year.

Institutional Trading of AerSale

Institutional investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. raised its stake in AerSale by 39.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,829 shares of the company’s stock valued at $55,000 after purchasing an additional 2,477 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in AerSale during the second quarter worth about $65,000. WINTON GROUP Ltd bought a new position in AerSale in the 2nd quarter valued at about $115,000. State of Wyoming increased its holdings in AerSale by 102.5% in the 1st 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 during the period. Finally, Bank of America Corp DE acquired a new position in shares of AerSale in the 2nd quarter valued at approximately $158,000. 69.48% of the stock is currently owned by institutional investors.

About AerSale

AerSale Corporation is an aviation aftermarket company that provides aircraft, engine and component services to commercial airlines, lessors, government agencies and other aviation operators. The company sources and sells used serviceable material, aircraft and engines, while also providing maintenance, repair and overhaul services for airframes, engines and components.

AerSale’s business includes the sale and lease of whole aircraft and engines, aircraft disassembly and parts distribution, and technical support services.