Insider Buying: AirSculpt Technologies (NASDAQ:AIRS) CEO Purchases 31,000 Shares of Stock

AirSculpt Technologies, Inc. (NASDAQ:AIRS) CEO Yogesh Jashnani bought 31,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average price of $0.78 per share, for a total transaction of $24,180.00. Following the completion of the acquisition, the chief executive officer directly owned 726,475 shares in the company, valued at approximately $566,650.50. The trade was a 4.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AirSculpt Technologies Price Performance

Shares of NASDAQ AIRS traded down $0.09 during mid-day trading on Thursday, reaching $0.72. The company had a trading volume of 1,587,420 shares, compared to its average volume of 1,521,598. The company has a 50-day moving average price of $1.76 and a two-hundred day moving average price of $3.05. The stock has a market cap of $53.23 million, a PE ratio of -5.54 and a beta of 2.29. The company has a current ratio of 0.85, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. AirSculpt Technologies, Inc. has a 1-year low of $0.52 and a 1-year high of $6.13.

AirSculpt Technologies (NASDAQ:AIRS) last announced its earnings results on Monday, August 10th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). AirSculpt Technologies had a negative net margin of 6.36% and a negative return on equity of 9.43%. The company had revenue of $42.90 million for the quarter, compared to analysts’ expectations of $44.14 million.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AIRS shares. Lake Street Capital dropped their price target on AirSculpt Technologies from $3.00 to $1.00 and set a “buy” rating on the stock in a research note on Monday. Wall Street Zen lowered shares of AirSculpt Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AirSculpt Technologies in a research note on Monday, September 28th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $2.75.

Hedge Funds Weigh In On AirSculpt Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in AirSculpt Technologies by 259.6% during the 1st quarter. Royal Bank of Canada now owns 9,879 shares of the company’s stock worth $28,000 after purchasing an additional 7,132 shares in the last quarter. AXQ Capital LP acquired a new stake in AirSculpt Technologies during the 2nd quarter valued at $46,000. Hsbc Holdings PLC acquired a new stake in AirSculpt Technologies during the 2nd quarter valued at $63,000. Waverly Advisors LLC purchased a new stake in shares of AirSculpt Technologies in the second quarter valued at $101,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of AirSculpt Technologies in the second quarter valued at $117,000. Institutional investors and hedge funds own 91.54% of the company’s stock.

About AirSculpt Technologies

AirSculpt Technologies, Inc. operates a medical aesthetics business focused on body-contouring and cosmetic procedures. Through its AirSculpt brand, the company provides minimally invasive liposuction and fat-transfer treatments designed to remove unwanted fat and reshape areas of the body. Its services also include procedures such as skin tightening and other elective aesthetic treatments, with offerings varying by location and patient needs. AirSculpt markets its procedures directly to consumers and provides consultations, treatment planning and follow-up care through its network of company-operated centers.