AirSculpt Technologies (NASDAQ:AIRS) Trading Down 8.5% – Here’s Why

AirSculpt Technologies, Inc. (NASDAQ:AIRS) was down 8.5% on Thursday . The stock traded as low as $1.94 and last traded at $1.94. Approximately 454,279 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,465,873 shares. The stock had previously closed at $2.12.

Analyst Ratings Changes

AIRS has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of AirSculpt Technologies in a research note on Monday, December 29th. Leerink Partners reissued a “market perform” rating and issued a $6.00 price target on shares of AirSculpt Technologies in a research report on Tuesday, November 11th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $6.00.

AirSculpt Technologies Trading Down 2.6%

The firm has a 50-day moving average price of $2.40 and a 200-day moving average price of $5.33. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $118.01 million, a PE ratio of -6.30 and a beta of 2.68.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AIRS. Renaissance Technologies LLC bought a new stake in shares of AirSculpt Technologies in the 4th quarter worth approximately $1,991,000. Vesey Street Capital Partners L.L.C. raised its stake in shares of AirSculpt Technologies by 3.4% in the second quarter. Vesey Street Capital Partners L.L.C. now owns 30,324,180 shares of the company’s stock valued at $146,466,000 after buying an additional 1,000,000 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of 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 last quarter. Marshall Wace LLP bought a new position in shares of AirSculpt Technologies during the 4th quarter worth $495,000. Finally, Massar Capital Management LP increased its holdings in AirSculpt Technologies by 686.3% in the 2nd quarter. Massar Capital Management LP now owns 220,150 shares of the company’s stock worth $1,063,000 after acquiring an additional 192,150 shares during the last quarter. 91.54% of the stock is owned by 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.