Short Interest in AerSale Co. (NASDAQ:ASLE) Decreases By 12.6%

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

AerSale Stock Performance

ASLE traded up $0.02 during trading on Monday, hitting $6.32. The stock had a trading volume of 38,378 shares, compared to its average volume of 458,990. AerSale has a twelve month low of $4.53 and a twelve month high of $16.69. The firm has a market capitalization of $336.29 million, a P/E ratio of 630.00 and a beta of 0.22. The company’s 50-day moving average price is $5.47 and its 200 day moving average price is $6.02.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Nicolas Finazzo bought 20,000 shares of the stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $5.36 per share, for a total transaction of $107,200.00. Following the acquisition, the insider now owns 37,000 shares in the company, valued at approximately $198,320. This represents a 117.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 37.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC increased its position in AerSale by 75.0% during the 3rd quarter. nVerses Capital LLC now owns 4,900 shares of the company’s stock worth $25,000 after purchasing an additional 2,100 shares during the period. California State Teachers Retirement System grew its holdings in AerSale by 9.3% during the first quarter. California State Teachers Retirement System now owns 29,579 shares of the company’s stock worth $212,000 after acquiring an additional 2,506 shares during the period. The Manufacturers Life Insurance Company raised its position in AerSale by 33.6% in 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 in the last quarter. American International Group Inc. lifted its holdings in AerSale by 30.5% in 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 position in shares of AerSale by 12.8% during the 2nd quarter. American Century Companies Inc. now owns 36,480 shares of the company’s stock worth $252,000 after purchasing an additional 4,134 shares in the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

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).