AirSculpt Technologies (NASDAQ:AIRS) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

AirSculpt Technologies (NASDAQ:AIRS) announced its earnings results on Tuesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05, RTT News reports. AirSculpt Technologies had a negative net margin of 11.41% and a negative return on equity of 14.30%. The business had revenue of $33.44 million for the quarter, compared to analyst estimates of $34.93 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share.

AirSculpt Technologies Trading Down 3.5%

Shares of AIRS stock opened at $2.73 on Thursday. The firm has a fifty day moving average of $2.33 and a 200-day moving average of $4.39. The stock has a market cap of $170.46 million, a price-to-earnings ratio of -9.10 and a beta of 2.21. AirSculpt Technologies has a 52-week low of $1.51 and a 52-week high of $12.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.51 and a current ratio of 0.51.

Insider Buying and Selling at AirSculpt Technologies

In related news, major shareholder Jorey Chernett acquired 50,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was purchased at an average cost of $2.91 per share, for a total transaction of $145,500.00. Following the completion of the purchase, the insider directly owned 6,843,761 shares of the company’s stock, valued at $19,915,344.51. The trade was a 0.74% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have bought 600,150 shares of company stock worth $1,404,424. 76.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AirSculpt Technologies

Large investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. lifted its holdings in AirSculpt Technologies by 128.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,113,843 shares of the company’s stock valued at $5,380,000 after purchasing an additional 626,309 shares during the last quarter. Renaissance Technologies LLC bought a new stake in AirSculpt Technologies during the fourth quarter worth about $1,991,000. Vanguard Group Inc. increased its holdings in shares of AirSculpt Technologies by 10.8% during the third quarter. Vanguard Group Inc. now owns 782,543 shares of the company’s stock worth $6,276,000 after buying an additional 76,291 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of AirSculpt Technologies by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 403,163 shares of the company’s stock worth $798,000 after buying an additional 17,889 shares in the last quarter. Finally, Saba Capital Management L.P. bought a new position in shares of AirSculpt Technologies in the fourth quarter valued at approximately $620,000. Institutional investors own 91.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of AirSculpt Technologies from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AirSculpt Technologies in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, AirSculpt Technologies currently has an average rating of “Reduce” and an average target price of $6.00.

AirSculpt Technologies Company Profile

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.