Royal Bank Of Canada Forecasts Strong Price Appreciation for AerSale (NASDAQ:ASLE) Stock

Key Points

• Royal Bank of Canada has raised its price target for AerSale (NASDAQ:ASLE) from $7.00 to $8.00, indicating a potential upside of 5.60% from the current price.
• AerSale's stock increased by 23.0%, reaching $7.58 during recent trading, with a significant trading volume of 741,487 shares.
• Institutional investors significantly increased their stakes, with GAMMA Investing LLC raising its holdings in AerSale by 3,427.5% in the first quarter.

AerSale (NASDAQ:ASLE - Free Report) had its price objective increased by Royal Bank Of Canada from $7.00 to $8.00 in a report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

ASLE has been the topic of a number of other reports. Truist Financial cut AerSale from a "buy" rating to a "hold" rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Friday, July 11th. Wall Street Zen lowered AerSale from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

AerSale Stock Performance

NASDAQ ASLE traded up $0.27 during trading on Thursday, hitting $8.53. The company's stock had a trading volume of 747,605 shares, compared to its average volume of 419,003. The company has a quick ratio of 0.88, a current ratio of 4.54 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average price of $6.07 and a 200 day moving average price of $6.68. The firm has a market cap of $399.72 million, a P/E ratio of 60.93 and a beta of 0.24. AerSale has a 52 week low of $4.53 and a 52 week high of $8.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of AerSale by 3,427.5% during the first quarter. GAMMA Investing LLC now owns 4,621 shares of the company's stock worth $35,000 after buying an additional 4,490 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its position in AerSale by 37.8% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,536 shares of the company's stock valued at $41,000 after purchasing an additional 1,519 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in AerSale by 85.4% during the first quarter. SBI Securities Co. Ltd. now owns 6,732 shares of the company's stock valued at $50,000 after purchasing an additional 3,100 shares during the last quarter. Quantbot Technologies LP boosted its position in AerSale by 133.1% during the first quarter. Quantbot Technologies LP now owns 7,500 shares of the company's stock valued at $56,000 after purchasing an additional 4,282 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in AerSale during the second quarter valued at approximately $66,000. 69.48% of the stock is owned by institutional investors and hedge funds.

AerSale Company Profile

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).