Short Interest in AerSale Co. (NASDAQ:ASLE) Declines By 10.1%

AerSale Co. (NASDAQ:ASLE) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 3,020,000 shares, a drop of 10.1% from the October 15th total of 3,360,000 shares. Currently, 10.4% of the shares of the stock are sold short. Based on an average daily volume of 430,100 shares, the days-to-cover ratio is presently 7.0 days.

AerSale Price Performance

AerSale stock opened at $6.06 on Friday. The stock has a market cap of $322.45 million, a price-to-earnings ratio of 606.61 and a beta of 0.22. The firm has a 50-day moving average of $5.25 and a two-hundred day moving average of $6.12. AerSale has a 1 year low of $4.53 and a 1 year high of $16.69.

Insider Activity at AerSale

In related news, insider Nicolas Finazzo acquired 20,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were acquired at an average cost of $5.36 per share, for a total transaction of $107,200.00. Following the completion of the transaction, the insider now directly owns 37,000 shares in the company, valued at approximately $198,320. This trade represents a 117.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AerSale

Several institutional investors have recently made changes to their positions in ASLE. nVerses Capital LLC raised its holdings in shares of AerSale by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 4,900 shares of the company’s stock valued at $25,000 after purchasing an additional 2,100 shares in the last quarter. SG Americas Securities LLC purchased a new position in AerSale in the third quarter valued at about $59,000. The Manufacturers Life Insurance Company lifted its position in shares of AerSale by 33.6% during the second quarter. The Manufacturers Life Insurance Company now owns 14,027 shares of the company’s stock valued at $97,000 after buying an additional 3,531 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of AerSale in the 2nd quarter valued at about $107,000. Finally, American International Group Inc. grew its position in shares of AerSale by 30.5% in the 1st quarter. American International Group Inc. now owns 16,605 shares of the company’s stock worth $119,000 after buying an additional 3,878 shares during the last quarter. Hedge funds and other institutional investors own 69.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Royal Bank of Canada dropped 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. Truist Financial cut their price target on shares of AerSale from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Stifel Nicolaus dropped their target price on AerSale from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

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).