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Business

Akanksha Bakshi

Benchmark Downgrades AeroClean After Share Price Rallies

GE Nasdaq FDA General Electric Co NYSE Nashville TN Vice President

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.

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