AerSale (NASDAQ:ASLE) Cut to Sell at Wall Street Zen

AerSale (NASDAQ:ASLE - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Thursday.

Separately, Royal Bank of Canada dropped their price objective on shares of AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $8.67.

AerSale Price Performance

AerSale stock traded up $0.02 during midday trading on Thursday, hitting $5.86. The company's stock had a trading volume of 269,018 shares, compared to its average volume of 410,265. AerSale has a 1-year low of $4.53 and a 1-year high of $8.76. The company has a 50-day moving average price of $6.98 and a two-hundred day moving average price of $6.74. The company has a market cap of $274.60 million, a price-to-earnings ratio of 586.59 and a beta of 0.30.

Hedge Funds Weigh In On AerSale

Several hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in AerSale in the 1st quarter valued at about $4,377,000. Jane Street Group LLC increased its holdings in AerSale by 1,250.8% in the 1st quarter. Jane Street Group LLC now owns 174,543 shares of the company's stock valued at $1,307,000 after buying an additional 161,622 shares during the period. Amundi bought a new position in AerSale in the 1st quarter valued at about $161,000. Ancora Advisors LLC increased its holdings in AerSale by 1.9% in the 1st quarter. Ancora Advisors LLC now owns 175,754 shares of the company's stock valued at $1,316,000 after buying an additional 3,243 shares during the period. Finally, PDT Partners LLC increased its holdings in AerSale by 78.0% in the 1st quarter. PDT Partners LLC now owns 38,632 shares of the company's stock valued at $289,000 after buying an additional 16,929 shares during the period. 69.48% of the stock is owned by institutional investors.

About AerSale

AerSale Corporation provides aftermarket commercial aircraft, engines, and its parts to passenger and cargo airlines, leasing companies, original equipment manufacturers, and government and defense contractors, as well as maintenance, repair, and overhaul (MRO) service providers worldwide. It operates in two segments, Asset Management Solutions and Technical Operations (TechOps).