AirSculpt Technologies (NASDAQ:AIRS) Given New $1.00 Price Target at Lake Street Capital

AirSculpt Technologies (NASDAQ:AIRS) had its price target cut by equities research analysts at Lake Street Capital from $3.00 to $1.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Lake Street Capital‘s price target would indicate a potential upside of 48.10% from the company’s previous close.

Several other equities analysts have also recently commented on AIRS. Wall Street Zen cut AirSculpt Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AirSculpt Technologies in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, AirSculpt Technologies presently has an average rating of “Hold” and an average target price of $2.75.

AirSculpt Technologies Stock Performance

NASDAQ:AIRS traded up $0.14 during trading hours on Monday, hitting $0.68. 4,850,772 shares of the company traded hands, compared to its average volume of 1,519,191. The stock has a market capitalization of $48.68 million, a price-to-earnings ratio of -5.19 and a beta of 2.29. AirSculpt Technologies has a twelve month low of $0.52 and a twelve month high of $6.70. The firm has a 50-day moving average of $1.87 and a 200 day moving average of $3.08. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.32.

AirSculpt Technologies (NASDAQ:AIRS) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). AirSculpt Technologies had a negative return on equity of 9.63% and a negative net margin of 6.36%. The company had revenue of $42.90 million during the quarter, compared to analyst estimates of $44.14 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIRS. Royal Bank of Canada grew its stake in shares of AirSculpt Technologies by 259.6% in the 1st 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 period. AXQ Capital LP acquired a new stake in AirSculpt Technologies in the 2nd quarter valued at $46,000. Hsbc Holdings PLC acquired a new stake in AirSculpt Technologies in the 2nd quarter valued at $63,000. Waverly Advisors LLC acquired a new stake in AirSculpt Technologies in the 2nd quarter valued at $101,000. Finally, Bank of New York Mellon Corp bought a new stake in AirSculpt Technologies in the second quarter valued at $117,000. Institutional investors 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.

The company was founded in 2015 by plastic surgeon Dr.