AerSale (NASDAQ:ASLE) Shares Down 1.8% - Time to Sell?

Key Points

• AerSale shares fell 1.8% to $4.95 in heavier-than-usual trading, with volume up 111% from the average session.
• Analyst sentiment is negative: the consensus rating is “Reduce” with a $6.83 price target, while recent reports include downgrades to “sell” and a lowered target from RBC.
• The company missed quarterly expectations, reporting a $0.09 loss per share versus an expected $0.06 profit and revenue of $70.93 million versus the $81.24 million consensus estimate.

AerSale Corporation (NASDAQ:ASLE - Get Free Report) shares dropped 1.8% on Monday. The company traded as low as $4.89 and last traded at $4.95. 932,432 shares changed hands during mid-day trading, an increase of 111% from the average session volume of 441,425 shares. The stock had previously closed at $5.04.

Analysts Set New Price Targets

ASLE has been the subject of a number of analyst reports. Royal Bank Of Canada cut their price target on AerSale from $8.00 to $7.00 and set a "sector perform" rating for the company in a research note on Monday, August 10th. B. Riley Financial initiated coverage on AerSale in a research note on Monday, June 29th. They issued a "neutral" rating and a $7.50 price objective for the company. Zacks Research lowered AerSale from a "hold" rating to a "strong sell" rating in a report on Thursday, August 27th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of AerSale in a research report on Wednesday, August 12th. Finally, Wall Street Zen downgraded AerSale from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, AerSale presently has an average rating of "Reduce" and a consensus target price of $6.83.

AerSale Price Performance

The company has a quick ratio of 0.76, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The business's 50-day moving average is $5.67 and its two-hundred day moving average is $6.15. The company has a market capitalization of $236.26 million, a P/E ratio of -61.88 and a beta of 0.37.

AerSale (NASDAQ:ASLE - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.15). The firm had revenue of $70.93 million during the quarter, compared to the consensus estimate of $81.24 million. AerSale had a negative return on equity of 0.27% and a negative net margin of 1.23%. As a group, analysts predict that AerSale Corporation will post 0.03 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ASLE. M3F Inc. raised its stake in shares of AerSale by 20.0% during the 1st quarter. M3F Inc. now owns 3,983,632 shares of the company's stock worth $24,778,000 after purchasing an additional 664,487 shares during the period. BlackRock Inc. bought a new position in AerSale during the second quarter valued at about $17,358,000. Dimensional Fund Advisors LP grew its position in AerSale by 8.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,397,416 shares of the company's stock valued at $8,691,000 after buying an additional 110,360 shares during the period. Raffles Associates LP purchased a new stake in AerSale during the second quarter worth about $2,907,000. Finally, Los Angeles Capital Management LLC increased its holdings in AerSale by 22.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 203,926 shares of the company's stock worth $1,519,000 after buying an additional 37,299 shares during the last quarter. Hedge funds and other institutional investors own 69.48% of the company's stock.

About AerSale

AerSale Corporation is an aviation aftermarket company that provides aircraft, engine and component services to commercial airlines, lessors, government agencies and other aviation operators. The company sources and sells used serviceable material, aircraft and engines, while also providing maintenance, repair and overhaul services for airframes, engines and components.

AerSale's business includes the sale and lease of whole aircraft and engines, aircraft disassembly and parts distribution, and technical support services.

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