Wall Street Zen Downgrades AirSculpt Technologies (NASDAQ:AIRS) to Hold

AirSculpt Technologies (NASDAQ:AIRS) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Separately, Leerink Partners set a $4.50 target price on AirSculpt Technologies in a research report on Thursday, May 14th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $4.50.

AirSculpt Technologies Stock Down 10.5%

NASDAQ:AIRS opened at $5.11 on Friday. AirSculpt Technologies has a twelve month low of $1.51 and a twelve month high of $12.00. The company has a market cap of $360.51 million, a price-to-earnings ratio of -30.06 and a beta of 2.31. The stock has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $2.94. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.39.

AirSculpt Technologies (NASDAQ:AIRS) last released its earnings results on Tuesday, March 31st. The company reported ($0.02) earnings per share for the quarter, hitting the consensus estimate of ($0.02). AirSculpt Technologies had a negative return on equity of 4.98% and a negative net margin of 7.39%.The business had revenue of $33.44 million during the quarter. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year.

Insider Transactions at AirSculpt Technologies

In other AirSculpt Technologies news, major shareholder Jorey Chernett bought 105,848 shares of the company’s stock in a transaction on Monday, March 16th. The shares were bought at an average cost of $2.43 per share, for a total transaction of $257,210.64. Following the acquisition, the insider directly owned 6,592,059 shares in the company, valued at approximately $16,018,703.37. The trade was a 1.63% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 654,550 shares of company stock worth $1,703,524. 44.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in AirSculpt Technologies by 259.6% in the first quarter. Royal Bank of Canada now owns 9,879 shares of the company’s stock valued at $28,000 after purchasing an additional 7,132 shares during the last quarter. Eversept Partners LP purchased a new stake in shares of AirSculpt Technologies during the first quarter worth about $210,000. Sei Investments Co. purchased a new stake in shares of AirSculpt Technologies during the first quarter worth about $170,000. Citizens Financial Group Inc. RI grew its stake in shares of AirSculpt Technologies by 11.3% during the first quarter. Citizens Financial Group Inc. RI now owns 265,861 shares of the company’s stock worth $752,000 after acquiring an additional 26,961 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of AirSculpt Technologies during the first quarter worth about $135,000. 91.54% of the stock is currently owned by institutional investors.

About AirSculpt Technologies

AirSculpt Technologies, Inc (NASDAQ: AIRS) is a medical technology company specializing in minimally invasive body contouring. The company’s flagship AirSculpt® platform combines pneumatic power with precision microcannulas to deliver fat removal, transfer and sculpting procedures. AirSculpt Technologies partners with both company-owned and franchised cosmetic surgery practices to offer a streamlined, office-based alternative to traditional liposuction.

Through its proprietary system, AirSculpt Technologies provides both consumers and medical professionals with an integrated solution that emphasizes reduced downtime, smaller incision sites, and more predictable outcomes.