Benchmark Downgrades AeroClean Thechnologies Inc. (AERC) to Hold
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Benchmark analyst Robert Wasserman downgraded AeroClean Thechnologies Inc. (NASDAQ: AERC) from Buy to Hold.
The analyst comments "AeroClean announced late last week the hiring of Jimmy Thompson as Vice President of Strategic Sales. The staffing addition is in accordance with the Company's strategy to support targeted industry verticals and develop strategic distribution, reseller and channel partner relationships for AeroClean's air hygiene technology product lines. Thompson's prior experience include key sales positions at Cerner, 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. The company's shares have rapidly met and exceeded our previous price target, despite a negative overall market outlook, and thus we are lowering our rating on AERC shares to Hold at this time due to share price and market volatility."
Shares of AeroClean Thechnologies Inc. closed at $17.25 yesterday.
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