AirSculpt Technologies (NASDAQ:AIRS) Lowered to Sell Rating by Wall Street Zen

AirSculpt Technologies (NASDAQ:AIRS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AirSculpt Technologies in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $6.00.

AirSculpt Technologies Stock Performance

AIRS opened at $2.87 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $179.20 million, a price-to-earnings ratio of -9.57 and a beta of 2.75. The company has a fifty day moving average of $2.33 and a 200 day moving average of $4.47. AirSculpt Technologies has a fifty-two week low of $1.51 and a fifty-two week high of $12.00.

Insider Activity

In related news, major shareholder Jorey Chernett acquired 50,000 shares of AirSculpt Technologies stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $2.91 per share, with a total value of $145,500.00. Following the completion of the purchase, the insider directly owned 6,843,761 shares of the company’s stock, valued at $19,915,344.51. The trade was a 0.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 600,150 shares of company stock worth $1,404,424. 76.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AirSculpt Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new position in shares of AirSculpt Technologies in the 4th quarter worth approximately $1,991,000. Balyasny Asset Management L.P. raised its holdings in AirSculpt Technologies by 128.5% during the 2nd quarter. Balyasny Asset Management L.P. now owns 1,113,843 shares of the company’s stock valued at $5,380,000 after buying an additional 626,309 shares during the period. Saba Capital Management L.P. purchased a new stake in AirSculpt Technologies during the 4th quarter valued at $620,000. Marshall Wace LLP bought a new stake in AirSculpt Technologies in the fourth quarter worth $495,000. Finally, Massar Capital Management LP lifted its position in AirSculpt Technologies by 686.3% in the second quarter. Massar Capital Management LP now owns 220,150 shares of the company’s stock worth $1,063,000 after buying an additional 192,150 shares during the last quarter. 91.54% of the stock is currently owned by hedge funds and other 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.