AerSale Co. (NASDAQ:ASLE) Sees Significant Decrease in Short Interest

AerSale Co. (NASDAQ:ASLE) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 3,020,000 shares, a decline of 10.1% from the October 15th total of 3,360,000 shares. Approximately 10.4% of the company’s stock are sold short. Based on an average trading volume of 430,100 shares, the short-interest ratio is currently 7.0 days.

Insider Activity

In other AerSale news, insider Nicolas Finazzo acquired 20,000 shares of AerSale stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $5.36 per share, with a total value of $107,200.00. Following the purchase, the insider now owns 37,000 shares in the company, valued at approximately $198,320. This trade represents a 117.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 37.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASLE. Millennium Management LLC lifted its position in AerSale by 520.7% during the 2nd quarter. Millennium Management LLC now owns 581,814 shares of the company’s stock worth $4,026,000 after acquiring an additional 488,081 shares during the last quarter. Private Capital Management LLC raised its position in shares of AerSale by 27.4% during the first quarter. Private Capital Management LLC now owns 1,849,539 shares of the company’s stock valued at $13,280,000 after buying an additional 398,200 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of AerSale by 21.1% during the first quarter. Janus Henderson Group PLC now owns 2,167,215 shares of the company’s stock valued at $15,560,000 after buying an additional 377,397 shares during the last quarter. Marshall Wace LLP raised its position in shares of AerSale by 683.1% during the second quarter. Marshall Wace LLP now owns 207,338 shares of the company’s stock valued at $1,435,000 after buying an additional 180,860 shares during the last quarter. Finally, Raffles Associates LP acquired a new position in shares of AerSale during the second quarter valued at about $692,000. Institutional investors and hedge funds own 69.48% of the company’s stock.

AerSale Price Performance

AerSale stock opened at $6.06 on Monday. The firm has a market cap of $322.45 million, a price-to-earnings ratio of 606.61 and a beta of 0.22. AerSale has a fifty-two week low of $4.53 and a fifty-two week high of $16.69. The firm has a fifty day moving average price of $5.25 and a two-hundred day moving average price of $6.11.

Analysts Set New Price Targets

Several research firms recently issued reports on ASLE. Stifel Nicolaus reduced their price objective on shares of AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Truist Financial reduced their price objective on shares of AerSale from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Royal Bank of Canada reduced their price objective on shares of AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th.

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).