Zacks: Brokerages Anticipate Airgain, Inc. (NASDAQ:AIRG) Will Post Quarterly Sales of $16.98 Million


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Wall Street analysts forecast that Airgain, Inc. (NASDAQ:AIRG) will report sales of $16.98 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Airgain’s earnings, with estimates ranging from $16.90 million to $17.00 million. Airgain reported sales of $11.22 million during the same quarter last year, which indicates a positive year-over-year growth rate of 51.3%. The company is scheduled to report its next earnings report on Thursday, May 6th.

According to Zacks, analysts expect that Airgain will report full-year sales of $74.18 million for the current year, with estimates ranging from $71.22 million to $78.30 million. For the next year, analysts expect that the company will post sales of $89.62 million, with estimates ranging from $81.87 million to $101.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Airgain.

Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Wednesday, February 17th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). Airgain had a negative return on equity of 4.50% and a negative net margin of 4.39%. The business had revenue of $12.83 million during the quarter, compared to the consensus estimate of $12.81 million.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Airgain from a “buy” rating to a “hold” rating in a research note on Thursday, February 25th. Northland Securities cut Airgain from an “outperform” rating to a “market perform” rating and set a $23.00 price target for the company. in a research note on Friday, January 29th. Roth Capital raised their target price on Airgain from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Cowen raised their target price on Airgain from $21.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, February 19th. Finally, B. Riley raised their target price on Airgain from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, February 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Airgain presently has a consensus rating of “Buy” and a consensus price target of $27.40.

In other Airgain news, SVP Morad Sbahi acquired 3,000 shares of Airgain stock in a transaction that occurred on Wednesday, March 10th. The stock was purchased at an average cost of $21.23 per share, with a total value of $63,690.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Kevin Thill sold 64,436 shares of the stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $23.35, for a total value of $1,504,580.60. Following the completion of the sale, the vice president now directly owns 69,499 shares of the company’s stock, valued at $1,622,801.65. The disclosure for this sale can be found here. Corporate insiders own 10.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of AIRG. JPMorgan Chase & Co. increased its position in Airgain by 180.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,850 shares of the technology company’s stock worth $68,000 after purchasing an additional 2,479 shares during the last quarter. Perkins Capital Management Inc. increased its position in Airgain by 14.8% in the 4th quarter. Perkins Capital Management Inc. now owns 15,500 shares of the technology company’s stock worth $276,000 after purchasing an additional 2,000 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Airgain in the 3rd quarter worth about $286,000. GSA Capital Partners LLP increased its position in Airgain by 21.2% in the 4th quarter. GSA Capital Partners LLP now owns 17,479 shares of the technology company’s stock worth $311,000 after purchasing an additional 3,059 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in Airgain in the 4th quarter worth about $327,000. 47.60% of the stock is currently owned by institutional investors.

Shares of NASDAQ:AIRG traded down $0.07 on Monday, hitting $21.85. The company’s stock had a trading volume of 680 shares, compared to its average volume of 223,510. Airgain has a 12 month low of $6.50 and a 12 month high of $29.50. The company has a market capitalization of $226.19 million, a price-to-earnings ratio of -99.64 and a beta of 1.31. The stock’s 50-day moving average is $22.79 and its two-hundred day moving average is $17.95.

About Airgain

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. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; SmartMax embedded antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and machine-to-machine antennas under the Antenna Plus brand.

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Earnings History and Estimates for Airgain (NASDAQ:AIRG)

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