Piper Sandler Cuts AirSculpt Technologies (NASDAQ:AIRS) Price Target to $6.00

AirSculpt Technologies (NASDAQ:AIRS) had its target price reduced by investment analysts at Piper Sandler from $7.00 to $6.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 0.17% from the stock’s current price.

Separately, BTIG Research began coverage on AirSculpt Technologies in a research report on Thursday, October 17th. They issued a “neutral” rating for the company. Five research analysts have rated the stock with a hold rating, According to MarketBeat, AirSculpt Technologies has a consensus rating of “Hold” and an average target price of $5.50.

AirSculpt Technologies Stock Up 2.4 %

NASDAQ:AIRS traded up $0.14 on Monday, hitting $5.99. 173,447 shares of the company’s stock traded hands, compared to its average volume of 250,283. AirSculpt Technologies has a 1 year low of $2.92 and a 1 year high of $9.20. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.80. The company has a market cap of $346.71 million, a PE ratio of -42.79 and a beta of 1.64. The firm has a 50-day moving average price of $6.39 and a 200-day moving average price of $5.17.

AirSculpt Technologies (NASDAQ:AIRS) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.05). AirSculpt Technologies had a positive return on equity of 2.22% and a negative net margin of 4.13%. The company had revenue of $42.55 million during the quarter, compared to analyst estimates of $42.49 million. During the same period in the prior year, the firm earned ($0.01) EPS. Equities analysts anticipate that AirSculpt Technologies will post 0.08 EPS for the current fiscal year.

Insider Transactions at AirSculpt Technologies

In other AirSculpt Technologies news, CEO Dennis Dean sold 24,510 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $6.54, for a total transaction of $160,295.40. Following the sale, the chief executive officer now directly owns 582,052 shares in the company, valued at $3,806,620.08. This represents a 4.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 78.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On AirSculpt Technologies

A number of hedge funds have recently made changes to their positions in the stock. SW Investment Management LLC increased its holdings in AirSculpt Technologies by 5.0% in the second quarter. SW Investment Management LLC now owns 4,500,000 shares of the company’s stock worth $18,000,000 after purchasing an additional 213,677 shares in the last quarter. Barclays PLC lifted its holdings in AirSculpt Technologies by 227.0% during the third quarter. Barclays PLC now owns 19,100 shares of the company’s stock worth $97,000 after acquiring an additional 13,259 shares during the period. Finally, Geode Capital Management LLC raised its stake in AirSculpt Technologies by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 355,540 shares of the company’s stock valued at $1,803,000 after acquiring an additional 21,339 shares during the period. 91.54% of the stock is currently owned by institutional investors and hedge funds.

About AirSculpt Technologies

AirSculpt Technologies, Inc, together with its subsidiaries, focuses on operating as a holding company for EBS Intermediate Parent LLC that provides body contouring procedure services in the United States. The company offers AirSculpt, a next-generation body contouring procedure that removes unwanted fat and tightens skin in a minimally invasive procedure.