B. Riley Financial Issues Pessimistic Forecast for AerSale (NASDAQ:ASLE) Stock Price

AerSale (NASDAQ:ASLE) had its price objective lowered by investment analysts at B. Riley Financial from $6.00 to $5.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. B. Riley Financial‘s price target would indicate a potential upside of 18.56% from the company’s current price.

A number of other brokerages have also weighed in on ASLE. Zacks Research raised shares of AerSale from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Royal Bank Of Canada reduced their target price on AerSale from $8.00 to $7.00 and set a “sector perform” rating for the company in a research note on Monday, August 10th. Wall Street Zen lowered AerSale from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AerSale in a research report on Wednesday, August 12th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, AerSale presently has an average rating of “Reduce” and a consensus price target of $6.17.

AerSale Stock Up 1.1%

ASLE stock opened at $4.64 on Monday. The firm has a 50 day moving average of $5.11 and a 200 day moving average of $6.20. The stock has a market capitalization of $221.41 million, a PE ratio of -11.90 and a beta of 0.23. The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. AerSale has a 52 week low of $4.53 and a 52 week high of $7.93.

AerSale (NASDAQ:ASLE) last released its earnings results on Thursday, November 5th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.13). The company had revenue of $91.56 million for the quarter, compared to analysts’ expectations of $91.22 million. AerSale had a negative return on equity of 0.72% and a negative net margin of 5.76%. Sell-side analysts forecast that AerSale will post 0.03 earnings per share for the current year.

Institutional Investors Weigh In On AerSale

Several hedge funds have recently added to or reduced their stakes in the business. Private Management Group Inc. raised its stake in shares of AerSale by 168.0% during the 3rd quarter. Private Management Group Inc. now owns 2,974,446 shares of the company’s stock valued at $15,586,000 after buying an additional 1,864,641 shares during the last quarter. Bfsg LLC boosted its stake in shares of AerSale by 211.9% in the third quarter. Bfsg LLC now owns 24,737 shares of the company’s stock worth $130,000 after buying an additional 16,807 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of AerSale in the second quarter worth about $115,000. Engineers Gate Manager LP grew its holdings in AerSale by 190.2% during the second quarter. Engineers Gate Manager LP now owns 40,853 shares of the company’s stock worth $258,000 after acquiring an additional 26,776 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in AerSale by 9.9% during the second quarter. Squarepoint Ops LLC now owns 148,674 shares of the company’s stock worth $940,000 after acquiring an additional 13,417 shares during the period. 69.48% of the stock is owned by hedge funds and other institutional investors.

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.