AerSale (NASDAQ:ASLE) Downgraded by Wall Street Zen to Sell

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

Separately, Royal Bank of Canada lowered their price objective on shares of AerSale from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.67.

AerSale Stock Up 2.2%

AerSale stock traded up $0.13 during mid-day trading on Thursday, hitting $5.99. The company's stock had a trading volume of 142,424 shares, compared to its average volume of 409,226. The stock has a market capitalization of $280.69 million, a P/E ratio of 599.50 and a beta of 0.30. AerSale has a twelve month low of $4.53 and a twelve month high of $8.76. The stock's fifty day moving average price is $6.94 and its two-hundred day moving average price is $6.74.

Hedge Funds Weigh In On AerSale

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in AerSale during the 1st quarter worth approximately $4,377,000. Jane Street Group LLC grew its holdings in shares of AerSale by 1,250.8% during the 1st quarter. Jane Street Group LLC now owns 174,543 shares of the company's stock valued at $1,307,000 after acquiring an additional 161,622 shares in the last quarter. Amundi purchased a new position in shares of AerSale during the 1st quarter valued at $161,000. Ancora Advisors LLC grew its holdings in shares of AerSale by 1.9% during the 1st quarter. Ancora Advisors LLC now owns 175,754 shares of the company's stock valued at $1,316,000 after acquiring an additional 3,243 shares in the last quarter. Finally, PDT Partners LLC grew its holdings in shares of AerSale by 78.0% during the 1st quarter. PDT Partners LLC now owns 38,632 shares of the company's stock valued at $289,000 after acquiring an additional 16,929 shares in the last quarter. 69.48% of the stock is currently owned by hedge funds and other 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).