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

AerSale Co. (NASDAQ:ASLE) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,020,000 shares, a decrease 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 trading volume, of 430,100 shares, the days-to-cover ratio is currently 7.0 days.

AerSale Stock Performance

Shares of ASLE stock opened at $6.01 on Tuesday. AerSale has a 52 week low of $4.53 and a 52 week high of $16.69. The stock has a market capitalization of $319.79 million, a PE ratio of 601.60 and a beta of 0.22. The stock’s fifty day moving average is $5.27 and its 200-day moving average is $6.10.

Insider Activity

In other AerSale news, insider Nicolas Finazzo purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $5.36 per share, with a total value of $107,200.00. Following the completion of the transaction, the insider now directly owns 37,000 shares of the company’s stock, valued at approximately $198,320. This trade represents a 117.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 37.30% of the company’s stock.

Institutional Investors Weigh In On AerSale

A number of hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC lifted its position in shares of AerSale by 75.0% during the third quarter. nVerses Capital LLC now owns 4,900 shares of the company’s stock worth $25,000 after purchasing an additional 2,100 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of AerSale by 9.3% in the 1st quarter. California State Teachers Retirement System now owns 29,579 shares of the company’s stock valued at $212,000 after buying an additional 2,506 shares during the period. The Manufacturers Life Insurance Company raised 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 worth $97,000 after acquiring an additional 3,531 shares during the last quarter. American International Group Inc. lifted its stake in shares of AerSale by 30.5% during the first quarter. American International Group Inc. now owns 16,605 shares of the company’s stock valued at $119,000 after acquiring an additional 3,878 shares during the period. Finally, American Century Companies Inc. boosted its holdings in AerSale by 12.8% in the second quarter. American Century Companies Inc. now owns 36,480 shares of the company’s stock valued at $252,000 after acquiring an additional 4,134 shares during the last quarter. Institutional investors own 69.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial cut their target price on AerSale from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Royal Bank of Canada dropped their target price on shares of AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Finally, Stifel Nicolaus reduced their price target on shares of AerSale from $13.00 to $11.00 and set a “buy” rating on the stock 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).