Airgain (NASDAQ:AIRG) Updates Q2 2022 Earnings Guidance

Airgain (NASDAQ:AIRGGet Rating) updated its second quarter 2022 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.01-$0.01 for the period, compared to the consensus earnings per share estimate of -$0.05. The company issued revenue guidance of $18.50 million-$20.00 million, compared to the consensus revenue estimate of $18.88 million.

A number of analysts have recently weighed in on the stock. B. Riley lowered shares of Airgain from a buy rating to a neutral rating and reduced their price target for the stock from $20.00 to $10.00 in a research note on Tuesday, February 22nd. Zacks Investment Research raised shares of Airgain from a hold rating to a buy rating and set a $11.00 target price for the company in a research note on Friday, May 20th. Cowen cut their target price on shares of Airgain from $13.00 to $11.00 in a research note on Friday, February 25th. Finally, StockNews.com raised shares of Airgain from a sell rating to a hold rating in a research note on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Airgain currently has a consensus rating of Hold and a consensus target price of $14.60.

Shares of AIRG stock traded down $0.08 during trading hours on Wednesday, reaching $10.13. 665 shares of the stock traded hands, compared to its average volume of 70,377. Airgain has a 1-year low of $6.79 and a 1-year high of $23.60. The business has a fifty day moving average price of $8.51 and a 200 day moving average price of $9.35. The firm has a market capitalization of $103.21 million, a PE ratio of -7.77 and a beta of 0.95.

Airgain (NASDAQ:AIRGGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. Airgain had a negative net margin of 19.94% and a negative return on equity of 16.01%. During the same quarter last year, the company earned ($0.04) EPS. As a group, analysts forecast that Airgain will post -0.4 earnings per share for the current year.

In other news, Director James K. Sims acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The stock was acquired at an average cost of $9.08 per share, with a total value of $45,400.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James K. Sims acquired 4,612 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were purchased at an average cost of $7.60 per share, with a total value of $35,051.20. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AIRG. Advisor Group Holdings Inc. boosted its holdings in Airgain by 30.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,916 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,154 shares during the period. Wells Fargo & Company MN boosted its holdings in Airgain by 64.5% in the 2nd quarter. Wells Fargo & Company MN now owns 5,865 shares of the technology company’s stock valued at $121,000 after purchasing an additional 2,300 shares during the period. Engineers Gate Manager LP boosted its holdings in Airgain by 18.4% in the 1st quarter. Engineers Gate Manager LP now owns 14,254 shares of the technology company’s stock valued at $108,000 after purchasing an additional 2,214 shares during the period. State Street Corp boosted its holdings in Airgain by 7.3% in the 1st quarter. State Street Corp now owns 40,476 shares of the technology company’s stock valued at $307,000 after purchasing an additional 2,756 shares during the period. Finally, Susquehanna International Group LLP boosted its holdings in Airgain by 90.0% in the 4th quarter. Susquehanna International Group LLP now owns 73,240 shares of the technology company’s stock valued at $779,000 after purchasing an additional 34,687 shares during the period. 63.63% of the stock is owned by institutional investors and hedge funds.

Airgain Company Profile (Get Rating)

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; SmartMax embedded antennas; and MaxBeam carrier class antennas, as well as automotive, fleet, public safety, and machine-to-machine antennas under the Antenna Plus brand.

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