AerSale Co. (NASDAQ:ASLE) Short Interest Down 10.1% in October

AerSale Co. (NASDAQ:ASLE) was the target of a large drop in short interest in the month of 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. Based on an average trading volume of 430,100 shares, the short-interest ratio is currently 7.0 days. Currently, 10.4% of the company’s shares are sold short.

AerSale Trading Down 0.8 %

Shares of NASDAQ ASLE opened at $6.01 on Tuesday. The company has a fifty day moving average price of $5.27 and a 200 day moving average price of $6.10. The firm has a market cap of $319.79 million, a PE ratio of 601.60 and a beta of 0.22. AerSale has a 1-year low of $4.53 and a 1-year high of $16.69.

Analysts Set New Price Targets

ASLE has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on AerSale from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Truist Financial dropped their price target on AerSale from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Royal Bank of Canada decreased their price objective on AerSale from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th.

Insider Activity at AerSale

In other news, insider Nicolas Finazzo bought 20,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were bought at an average cost of $5.36 per share, for a total transaction of $107,200.00. Following the completion of the acquisition, the insider now owns 37,000 shares in the company, valued at approximately $198,320. This trade represents a 117.65 % increase in their position. The acquisition 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 corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. nVerses Capital LLC raised its position in 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 buying an additional 2,100 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of AerSale in the third quarter worth $59,000. The Manufacturers Life Insurance Company boosted its holdings in 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 last quarter. Allspring Global Investments Holdings LLC bought a new position in AerSale in the second quarter valued at $107,000. Finally, American International Group Inc. increased its stake in AerSale by 30.5% in the 1st quarter. American International Group Inc. now owns 16,605 shares of the company’s stock valued at $119,000 after buying an additional 3,878 shares during the last quarter. 69.48% of the stock is owned by institutional investors and hedge funds.

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).