Airgain Inc (NASDAQ:AIRG) has earned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $17.67.
A number of research firms have issued reports on AIRG. Zacks Investment Research lowered shares of Airgain from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Northland Securities reiterated a “buy” rating and set a $17.00 target price on shares of Airgain in a report on Friday, May 10th. Cowen reiterated an “outperform” rating and set a $14.00 target price (down from $16.00) on shares of Airgain in a report on Friday, August 9th. ValuEngine lowered shares of Airgain from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. Finally, B. Riley increased their target price on shares of Airgain from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, May 6th.
In other news, CEO James K. Sims sold 4,476 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $14.00, for a total value of $62,664.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 32,428 shares of company stock worth $458,485 over the last 90 days. Company insiders own 8.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in AIRG. BlackRock Inc. raised its holdings in shares of Airgain by 705.0% in the 2nd quarter. BlackRock Inc. now owns 565,949 shares of the technology company’s stock valued at $8,007,000 after purchasing an additional 495,649 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Airgain by 987.2% in the 2nd quarter. Renaissance Technologies LLC now owns 209,824 shares of the technology company’s stock valued at $2,969,000 after purchasing an additional 190,524 shares in the last quarter. Cadence Capital Management LLC acquired a new stake in shares of Airgain in the 1st quarter valued at $1,299,000. Victory Capital Management Inc. acquired a new stake in shares of Airgain in the 2nd quarter valued at $1,378,000. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of Airgain in the 1st quarter valued at $930,000. Institutional investors and hedge funds own 43.70% of the company’s stock.
Shares of NASDAQ:AIRG traded down $0.26 during mid-day trading on Thursday, reaching $11.37. 36,200 shares of the company were exchanged, compared to its average volume of 108,243. The firm has a market cap of $117.00 million, a price-to-earnings ratio of -42.11 and a beta of 1.93. The firm’s 50-day simple moving average is $12.95 and its 200 day simple moving average is $13.44. Airgain has a 1 year low of $8.81 and a 1 year high of $17.25.
Airgain (NASDAQ:AIRG) last released its earnings results on Thursday, August 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.11. The company had revenue of $14.50 million for the quarter, compared to analyst estimates of $14.30 million. Airgain had a net margin of 4.38% and a return on equity of 5.94%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 EPS. On average, research analysts predict that Airgain will post 0.01 earnings per share for the current year.
Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors 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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