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

AerSale Co. (NASDAQ:ASLE) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 2,640,000 shares, a decrease of 12.6% from the October 31st total of 3,020,000 shares. Approximately 9.1% of the company’s shares are short sold. Based on an average trading volume of 442,200 shares, the short-interest ratio is presently 6.0 days.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ASLE shares. Truist Financial decreased their price target on AerSale from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, October 18th. Stifel Nicolaus dropped their price objective on AerSale from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Royal Bank of Canada reduced their target price on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th.

AerSale Stock Performance

Shares of ASLE stock opened at $6.43 on Tuesday. The stock has a market capitalization of $342.14 million, a price-to-earnings ratio of 643.64 and a beta of 0.28. AerSale has a one year low of $4.53 and a one year high of $16.69. The company’s 50-day simple moving average is $5.47 and its 200-day simple moving average is $6.01.

Insider Transactions at AerSale

In related news, insider Nicolas Finazzo acquired 20,000 shares of AerSale stock in a transaction on Friday, September 13th. The shares were bought at an average price of $5.36 per share, for a total transaction of $107,200.00. Following the completion of the purchase, the insider now directly owns 37,000 shares in the company, valued at $198,320. This trade represents a 117.65 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 37.30% of the company’s stock.

Institutional Trading of AerSale

Several institutional investors and hedge funds have recently bought and sold shares of ASLE. nVerses Capital LLC increased 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 acquiring an additional 2,100 shares during the last quarter. SG Americas Securities LLC bought a new stake in AerSale during the third quarter valued at $59,000. Virtu Financial LLC bought a new stake in AerSale during the third quarter valued at $82,000. The Manufacturers Life Insurance Company raised its holdings 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 purchasing an additional 3,531 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of AerSale in the 2nd quarter worth about $107,000. Institutional investors and hedge funds own 69.48% of the company’s stock.

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).