AerSale (NASDAQ:ASLE) Share Price Crosses Above 50-Day Moving Average Following Analyst Downgrade

Shares of AerSale Corporation (NASDAQ:ASLE) crossed above its 50-day moving average during trading on Tuesday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock has a 50-day moving average of $5.10 and traded as high as $5.22. AerSale shares last traded at $5.18, with a volume of 482,880 shares changing hands.

ASLE has been the subject of several other research reports. 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 report on Wednesday, August 12th. B. Riley Financial began coverage on AerSale in a research note on Monday, June 29th. They issued a “neutral” rating and a $7.50 price target for the company. Finally, Royal Bank Of Canada dropped their price target 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. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $5.75.

Institutional Trading of AerSale

Several institutional investors and hedge funds have recently modified their holdings of ASLE. BlackRock Inc. purchased a new position in shares of AerSale during the 2nd quarter valued at about $17,358,000. Raffles Associates LP acquired a new position in shares of AerSale in the 2nd quarter valued at about $2,907,000. Bank of New York Mellon Corp purchased a new stake in shares of AerSale in the second quarter worth about $970,000. Dimensional Fund Advisors LP boosted its stake in shares of AerSale by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock worth $8,691,000 after buying an additional 110,360 shares during the last quarter. Finally, Private Management Group Inc. boosted its stake in shares of AerSale by 168.0% in the third quarter. Private Management Group Inc. now owns 2,974,446 shares of the company’s stock worth $15,586,000 after buying an additional 1,864,641 shares during the last quarter. Institutional investors own 69.48% of the company’s stock.

AerSale Stock Performance

The stock has a market capitalization of $247.24 million, a price-to-earnings ratio of -13.28 and a beta of 0.23. The firm has a fifty day moving average of $5.10 and a 200 day moving average of $6.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.80 and a quick ratio of 0.76.

AerSale (NASDAQ:ASLE) last issued its quarterly earnings data on Thursday, November 5th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.13). AerSale had a negative return on equity of 0.73% and a negative net margin of 5.76%. The firm had revenue of $91.56 million during the quarter, compared to analyst estimates of $91.22 million. On average, sell-side analysts anticipate that AerSale Corporation will post 0.03 earnings per share for the current fiscal year.

AerSale Company Profile

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.