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

AerSale (NASDAQ:ASLE) had its target price reduced by analysts at B. Riley Financial from $7.50 to $6.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley Financial‘s price objective suggests a potential upside of 27.12% from the company’s previous close.

Several other research firms have also recently commented on ASLE. Zacks Research upgraded AerSale from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Wall Street Zen cut AerSale from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reissued a “sell (d)” rating on shares of AerSale in a research note on Wednesday, August 12th. Finally, Royal Bank Of Canada cut their price target on AerSale from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on Monday, August 10th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $6.33.

AerSale Price Performance

AerSale stock opened at $4.72 on Wednesday. The company has a market cap of $225.27 million, a price-to-earnings ratio of -59.00 and a beta of 0.37. AerSale has a 12 month low of $4.54 and a 12 month high of $7.93. The stock’s 50-day moving average is $5.25 and its 200-day moving average is $6.31.

AerSale (NASDAQ:ASLE) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.15). The business had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. Research analysts anticipate that AerSale will post 0.03 EPS for the current year.

Hedge Funds Weigh In On AerSale

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. M3F Inc. raised its position in AerSale by 20.0% during the first quarter. M3F Inc. now owns 3,983,632 shares of the company’s stock valued at $24,778,000 after buying an additional 664,487 shares during the period. BlackRock Inc. acquired a new stake in AerSale during the 2nd quarter worth about $17,358,000. Dimensional Fund Advisors LP boosted its position in AerSale by 8.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock worth $8,691,000 after acquiring an additional 110,360 shares during the period. Raffles Associates LP purchased a new position in AerSale during the 2nd quarter valued at about $2,907,000. Finally, Bank of New York Mellon Corp purchased a new position in AerSale during the 2nd quarter valued at about $970,000. 69.48% of the stock is currently 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.