AirSculpt Technologies (NASDAQ:AIRS) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

AirSculpt Technologies (NASDAQ:AIRS) announced its earnings results on Tuesday. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.05, RTT News reports. AirSculpt Technologies had a negative net margin of 11.41% and a negative return on equity of 14.30%. The business had revenue of $33.44 million during the quarter, compared to analysts’ expectations of $34.93 million. During the same period in the prior year, the company earned ($0.09) earnings per share.

AirSculpt Technologies Price Performance

NASDAQ AIRS opened at $2.73 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.63. AirSculpt Technologies has a 12 month low of $1.51 and a 12 month high of $12.00. The stock has a market cap of $170.46 million, a price-to-earnings ratio of -9.10 and a beta of 2.21. The company’s 50 day moving average is $2.33 and its two-hundred day moving average is $4.39.

Insider Buying and Selling at AirSculpt Technologies

In other news, major shareholder Jorey Chernett acquired 105,848 shares of AirSculpt Technologies stock in a transaction dated Monday, March 16th. The stock was purchased at an average cost of $2.43 per share, with a total value of $257,210.64. Following the completion of the purchase, the insider directly owned 6,592,059 shares in the company, valued at approximately $16,018,703.37. This trade represents a 1.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 600,150 shares of company stock valued at $1,404,424 in the last three months. Corporate insiders own 76.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. increased its stake in AirSculpt Technologies by 128.5% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,113,843 shares of the company’s stock worth $5,380,000 after buying an additional 626,309 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of AirSculpt Technologies in the fourth quarter valued at about $1,991,000. Vanguard Group Inc. boosted its stake in shares of AirSculpt Technologies by 10.8% in the third quarter. Vanguard Group Inc. now owns 782,543 shares of the company’s stock worth $6,276,000 after acquiring an additional 76,291 shares during the period. Geode Capital Management LLC grew its position in shares of AirSculpt Technologies by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 403,163 shares of the company’s stock worth $798,000 after purchasing an additional 17,889 shares in the last quarter. Finally, Saba Capital Management L.P. purchased a new stake in shares of AirSculpt Technologies during the fourth quarter worth about $620,000. Institutional investors own 91.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AIRS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AirSculpt Technologies in a research note on Monday, December 29th. Wall Street Zen lowered AirSculpt Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $6.00.

AirSculpt Technologies Company Profile

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.