Benchmark Downgrades AeroClean After Share Price Rallies

Author: Akanksha Bakshi | June 14, 2022 03:57pm

• Benchmark analyst Robert Wasserman downgraded AeroClean Technologies Inc (NASDAQ:AERC) to Hold from Buy, without a price target.
• The analyst notes that despite a poor overall market outlook, the company's shares have quickly reached and exceeded earlier price targets.
• Wasserman downgraded the rating on AERC at this time due to share price and market volatility.
• AeroClean hired Jimmy Thompson as Vice President of Strategic Sales last week. Thompson's prior experience includes key sales positions at Cerner Corp (NASDAQ:CERN), General Electric Co's (NYSE:GE) GE Healthcare, SIMS Portex, and Baptist Hospital in Nashville, TN.
• The new hire announcement follows closely on the heels of the company's announcement of FDA marketing approval for its Pūrgo air purification device.
• Related: Why AeroClean Shares Are Jumping Today
• Price Action: AERC shares are trading lower by 17.62% at $14.21 on the last check Tuesday.

Posted In: AERC CERN GE