AirSculpt Technologies (NASDAQ:AIRS) Trading Down 1.3% – Time to Sell?

AirSculpt Technologies, Inc. (NASDAQ:AIRS) dropped 1.3% during mid-day trading on Friday . The company traded as low as $4.55 and last traded at $4.61. Approximately 266,424 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 431,765 shares. The stock had previously closed at $4.67.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Weiss Ratings raised AirSculpt Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. Wall Street Zen upgraded AirSculpt Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Leerink Partners set a $4.50 price objective on AirSculpt Technologies in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $4.50.

AirSculpt Technologies Price Performance

The company has a 50-day moving average of $4.83 and a 200-day moving average of $3.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market cap of $325.24 million, a price-to-earnings ratio of -27.12 and a beta of 2.34.

AirSculpt Technologies (NASDAQ:AIRS) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). AirSculpt Technologies had a negative return on equity of 4.98% and a negative net margin of 7.39%.The company had revenue of $39.39 million for the quarter, compared to analyst estimates of $39.20 million.

Institutional Investors Weigh In On AirSculpt Technologies

Several hedge funds have recently modified their holdings of AIRS. Royal Bank of Canada grew its position in AirSculpt Technologies by 259.6% in the 1st quarter. Royal Bank of Canada now owns 9,879 shares of the company’s stock valued at $28,000 after buying an additional 7,132 shares during the last quarter. Virtu Financial LLC purchased a new position in AirSculpt Technologies during the 4th quarter worth $30,000. Millennium Management LLC acquired a new stake in shares of AirSculpt Technologies in the 4th quarter worth $33,000. Aigen Investment Management LP acquired a new stake in shares of AirSculpt Technologies in the 4th quarter worth $36,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of AirSculpt Technologies by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 19,275 shares of the company’s stock valued at $38,000 after acquiring an additional 6,420 shares in the last quarter. 91.54% of the stock is owned by institutional investors and hedge funds.

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.