AerSale (NASDAQ:ASLE) Stock Crosses Above Fifty Day Moving Average Following Analyst Downgrade

AerSale Corporation (NASDAQ:ASLE)’s stock price passed 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 traded.

Several other analysts have also recently issued reports on the stock. B. Riley Financial assumed coverage on shares of AerSale in a research note on Monday, June 29th. They set a “neutral” rating and a $7.50 price objective for the company. 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 report on Monday, August 10th. Wall Street Zen lowered AerSale from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of AerSale in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $5.75.

Institutional Trading of AerSale

Several hedge funds have recently made changes to their positions in ASLE. BlackRock Inc. acquired a new position in AerSale in the second quarter valued at approximately $17,358,000. Raffles Associates LP acquired a new position in shares of AerSale in the 2nd quarter valued at $2,907,000. Bank of New York Mellon Corp acquired a new position in AerSale in the second quarter valued at about $970,000. Dimensional Fund Advisors LP lifted its position in AerSale by 8.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company’s stock valued at $8,691,000 after buying an additional 110,360 shares during the last quarter. Finally, Private Management Group Inc. lifted its position in AerSale by 168.0% in the third 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. Hedge funds and other institutional investors own 69.48% of the company’s stock.

AerSale Trading Up 2.4%

The company has a market cap of $247.24 million, a PE ratio of -13.28 and a beta of 0.23. The company’s 50 day simple moving average is $5.10 and its two-hundred day simple moving average is $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 net margin of 5.76% and a negative return on equity of 0.73%. The firm had revenue of $91.56 million during the quarter, compared to analyst estimates of $91.22 million. As a group, sell-side analysts anticipate that AerSale Corporation will post 0.03 EPS for the current fiscal year.

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.