Brokerages Expect Airgain Inc (AIRG) Will Post Quarterly Sales of $14.08 Million

Analysts predict that Airgain Inc (NASDAQ:AIRG) will post $14.08 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Airgain’s earnings. The lowest sales estimate is $13.90 million and the highest is $14.25 million. Airgain reported sales of $13.01 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The business is scheduled to issue its next earnings report on Monday, August 6th.

According to Zacks, analysts expect that Airgain will report full-year sales of $59.88 million for the current fiscal year, with estimates ranging from $59.46 million to $60.30 million. For the next fiscal year, analysts expect that the company will report sales of $66.84 million per share, with estimates ranging from $66.68 million to $67.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Airgain.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Thursday, May 3rd. The technology company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). The firm had revenue of $13.30 million during the quarter, compared to analysts’ expectations of $12.16 million. Airgain had a positive return on equity of 1.58% and a negative net margin of 0.68%. Airgain’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.04 earnings per share.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Airgain from a “strong sell” rating to a “hold” rating in a research note on Friday, May 11th. ValuEngine cut Airgain from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. B. Riley cut Airgain from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Friday, February 16th. Finally, Northland Securities reissued a “buy” rating and issued a $13.00 target price on shares of Airgain in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Airgain currently has a consensus rating of “Hold” and an average target price of $13.50.

Shares of AIRG stock opened at $8.35 on Wednesday. The firm has a market capitalization of $79.10 million, a P/E ratio of 75.91 and a beta of 2.04. Airgain has a twelve month low of $7.31 and a twelve month high of $15.54.

In related news, VP Jacob Suen bought 10,000 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were purchased at an average cost of $8.20 per share, with a total value of $82,000.00. Following the completion of the purchase, the vice president now owns 20,000 shares in the company, valued at approximately $164,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Anil Doradla bought 5,000 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was bought at an average cost of $8.19 per share, for a total transaction of $40,950.00. Following the completion of the purchase, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $40,950. The disclosure for this purchase can be found here. Over the last three months, insiders sold 28,660 shares of company stock worth $260,548. Insiders own 20.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AIRG. Millennium Management LLC purchased a new stake in shares of Airgain in the fourth quarter worth $102,000. UBS Group AG lifted its holdings in shares of Airgain by 144.6% during the first quarter. UBS Group AG now owns 25,143 shares of the technology company’s stock valued at $195,000 after purchasing an additional 81,464 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in shares of Airgain during the fourth quarter valued at $314,000. PenderFund Capital Management Ltd. bought a new position in shares of Airgain during the first quarter valued at $365,000. Finally, Trellus Management Company LLC lifted its holdings in shares of Airgain by 41.4% during the first quarter. Trellus Management Company LLC now owns 70,000 shares of the technology company’s stock valued at $542,000 after purchasing an additional 20,500 shares in the last quarter. 29.98% of the stock is currently owned by hedge funds and other institutional investors.

Airgain Company Profile

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, and service providers worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; omnimax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.

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