Airsculpt Technologies stock hits 52-week low at $2.92

In a challenging market environment, Airsculpt Technologies, Inc. (AIRS) has seen its stock price descend to a 52-week low, touching down at $2.92. According to InvestingPro data, the stock’s RSI indicates oversold territory, while analyst price targets range from $5.00 to $6.50, suggesting potential upside. This latest price level reflects a significant downturn from the company’s performance over the past year, with Airsculpt Technologies witnessing a stark 1-year change, plummeting by -49.49%. With a market capitalization of $192 million and the stock currently trading below InvestingPro’s Fair Value, investors are closely monitoring the company’s trajectory as it navigates through market pressures. The upcoming earnings report in three days could prove pivotal for the company’s stock. Discover 10 additional key insights about AIRS with an InvestingPro subscription.

In other recent news, AirSculpt Technologies has reported preliminary revenue for 2024 at $180 million, falling short of the company’s guidance of $183 million to $189 million and the average analyst estimate of $185.4 million. The company’s adjusted EBITDA for 2024 is projected at $20.5 million, which is below its own forecast of $23 million to $28 million and the analyst estimate of $24.2 million. Meanwhile, Piper Sandler has revised its price target for AirSculpt Technologies from $6.00 to $5.00, maintaining a Neutral rating. This adjustment follows discussions with the new CEO and reflects a cautious stance due to challenges in customer conversion and the need for a gradual approach to business operations.

Additionally, AirSculpt Technologies announced an amendment to its Chief Accounting Officer’s employment agreement, increasing Philip Bodie’s annual base salary to $325,000 and his target short-term incentive compensation to $162,500. The company has also granted Bodie an equity award valued at 50% of his annual base salary. In other corporate governance developments, Pamela Netzky has resigned from the Board and her role on the Nominating and Corporate Governance Committee. Her departure was not due to any disagreements with the company’s operations or policies. These recent developments highlight AirSculpt Technologies’ ongoing adjustments and strategic efforts under new leadership.

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