AirSculpt Technologies (NASDAQ:AIRS) Stock: Insider Yogesh Jashnani Buys 31,000 Shares

Key Points

• CEO Yogesh Jashnani bought 31,000 shares at an average price of $0.78, increasing his direct holdings by 4.46% to 726,475 shares.
• AirSculpt shares fell to $0.72 in Thursday trading and have ranged from $0.52 to $6.13 over the past year; the company’s market capitalization was about $53 million.
• Quarterly results fell short of estimates: earnings were $0.01 per share versus $0.02 expected, and revenue was $42.9 million versus $44.14 million expected. Analysts’ consensus rating is Hold, with an average price target of $2.75.

AirSculpt Technologies, Inc. (NASDAQ:AIRS - Get Free Report) CEO Yogesh Jashnani acquired 31,000 shares of AirSculpt Technologies stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average cost of $0.78 per share, with a total value of $24,180.00. Following the acquisition, the chief executive officer directly owned 726,475 shares of the company's stock, valued at approximately $566,650.50. This trade represents a 4.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AirSculpt Technologies Price Performance

AIRS traded down $0.09 on Thursday, reaching $0.72. The company had a trading volume of 1,587,420 shares, compared to its average volume of 1,521,598. AirSculpt Technologies, Inc. has a one year low of $0.52 and a one year high of $6.13. The company has a market capitalization of $53.23 million, a P/E ratio of -5.54 and a beta of 2.29. The company has a fifty day moving average of $1.76 and a 200-day moving average of $3.05. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29.

AirSculpt Technologies (NASDAQ:AIRS - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The company had revenue of $42.90 million during the quarter, compared to analyst estimates of $44.14 million. AirSculpt Technologies had a negative return on equity of 9.43% and a negative net margin of 6.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded AirSculpt Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AirSculpt Technologies in a research note on Monday, September 28th. Finally, Lake Street Capital lowered their price target on AirSculpt Technologies from $3.00 to $1.00 and set a "buy" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $2.75.

Hedge Funds Weigh In On AirSculpt Technologies

Several hedge funds have recently made changes to their positions in AIRS. Royal Bank of Canada raised its holdings in shares of AirSculpt Technologies by 259.6% in the 1st quarter. Royal Bank of Canada now owns 9,879 shares of the company's stock worth $28,000 after purchasing an additional 7,132 shares in the last quarter. AXQ Capital LP bought a new stake in AirSculpt Technologies during the second quarter worth approximately $46,000. Hsbc Holdings PLC bought a new stake in AirSculpt Technologies during the second quarter worth approximately $63,000. Waverly Advisors LLC acquired a new position in AirSculpt Technologies in the second quarter worth approximately $101,000. Finally, Bank of New York Mellon Corp acquired a new position in AirSculpt Technologies in the second quarter worth approximately $117,000. Institutional investors and hedge funds own 91.54% of the company's stock.

AirSculpt Technologies Company Profile

AirSculpt Technologies, Inc. operates a medical aesthetics business focused on body-contouring and cosmetic procedures. Through its AirSculpt brand, the company provides minimally invasive liposuction and fat-transfer treatments designed to remove unwanted fat and reshape areas of the body. Its services also include procedures such as skin tightening and other elective aesthetic treatments, with offerings varying by location and patient needs. AirSculpt markets its procedures directly to consumers and provides consultations, treatment planning and follow-up care through its network of company-operated centers.

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