Insider Buying: AirSculpt Technologies (NASDAQ:AIRS) Major Shareholder Purchases 20,000 Shares of Stock

Key Points

• Jorey Chernett purchased 20,000 shares of AirSculpt on April 14 at $2.60, bringing his direct holdings to 7,013,761 shares (about $18.24M); the trade was disclosed in an SEC filing.
• Chernett has been aggressively accumulating since March 4, buying roughly 690,150 shares across multiple trades for about $1.75 million in total.
• AirSculpt shares trade near $2.74 with a market cap of roughly $193M; the company reported an EPS beat but revenue was down 14.8% year-over-year and analysts carry an average "Reduce" rating with a $6 target.

AirSculpt Technologies, Inc. (NASDAQ:AIRS - Get Free Report) major shareholder Jorey Chernett purchased 20,000 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average price of $2.60 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the insider directly owned 7,013,761 shares of the company's stock, valued at $18,235,778.60. This trade represents a 0.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Jorey Chernett also recently made the following trade(s):

• On Tuesday, April 7th, Jorey Chernett purchased 60,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.93 per share, for a total transaction of $175,800.00.
• On Friday, April 3rd, Jorey Chernett purchased 90,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.82 per share, for a total transaction of $253,800.00.
• On Monday, March 23rd, Jorey Chernett purchased 50,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.91 per share, for a total transaction of $145,500.00.
• On Friday, March 20th, Jorey Chernett purchased 40,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.77 per share, for a total transaction of $110,800.00.
• On Thursday, March 19th, Jorey Chernett purchased 77,702 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.64 per share, for a total transaction of $205,133.28.
• On Tuesday, March 17th, Jorey Chernett purchased 83,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.56 per share, for a total transaction of $212,480.00.
• On Monday, March 16th, Jorey Chernett purchased 105,848 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.43 per share, for a total transaction of $257,210.64.
• On Wednesday, March 11th, Jorey Chernett purchased 88,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.15 per share, for a total transaction of $189,200.00.
• On Friday, March 6th, Jorey Chernett purchased 45,600 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $2.00 per share, for a total transaction of $91,200.00.
• On Wednesday, March 4th, Jorey Chernett purchased 30,000 shares of AirSculpt Technologies stock. The shares were acquired at an average price of $1.87 per share, for a total transaction of $56,100.00.

AirSculpt Technologies Stock Performance

AirSculpt Technologies stock traded up $0.12 during mid-day trading on Wednesday, reaching $2.74. 339,425 shares of the company's stock were exchanged, compared to its average volume of 2,569,510. The business's fifty day simple moving average is $2.33 and its 200 day simple moving average is $4.13. The firm has a market capitalization of $192.95 million, a PE ratio of -14.45 and a beta of 2.22. AirSculpt Technologies, Inc. has a one year low of $1.51 and a one year high of $12.00. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.58.

AirSculpt Technologies (NASDAQ:AIRS - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. The firm had revenue of $33.44 million for the quarter, compared to analyst estimates of $34.93 million. AirSculpt Technologies had a negative return on equity of 5.01% and a negative net margin of 7.68%.The business's revenue was down 14.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) earnings per share. On average, sell-side analysts expect that AirSculpt Technologies, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AIRS. Wall Street Zen upgraded AirSculpt Technologies from a "sell" rating to a "hold" rating in a research note on Sunday, April 5th. Weiss Ratings restated a "sell (d-)" rating on shares of AirSculpt Technologies in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, AirSculpt Technologies currently has an average rating of "Reduce" and an average target price of $6.00.

Hedge Funds Weigh In On AirSculpt Technologies

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in shares of AirSculpt Technologies by 239.5% in the third quarter. BNP Paribas Financial Markets now owns 5,952 shares of the company's stock valued at $48,000 after purchasing an additional 4,199 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of AirSculpt Technologies by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 19,275 shares of the company's stock valued at $38,000 after purchasing an additional 6,420 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of AirSculpt Technologies in the fourth quarter valued at $36,000. Millennium Management LLC purchased a new position in shares of AirSculpt Technologies in the fourth quarter valued at $33,000. Finally, Virtu Financial LLC purchased a new position in shares of AirSculpt Technologies in the fourth quarter valued at $30,000. 91.54% of the stock is currently owned by hedge funds and other institutional investors.

About AirSculpt Technologies

AirSculpt Technologies, Inc NASDAQ: AIRS is a medical technology company specializing in minimally invasive body contouring. The company's flagship AirSculpt® platform combines pneumatic power with precision microcannulas to deliver fat removal, transfer and sculpting procedures. AirSculpt Technologies partners with both company-owned and franchised cosmetic surgery practices to offer a streamlined, office-based alternative to traditional liposuction.

Through its proprietary system, AirSculpt Technologies provides both consumers and medical professionals with an integrated solution that emphasizes reduced downtime, smaller incision sites, and more predictable outcomes.

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