Beyond Air, Inc. (NASDAQ:XAIR) Sees Significant Decline in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 531,030 shares, a decline of 78.2% from the January 15th total of 2,435,557 shares. Based on an average trading volume of 1,558,559 shares, the days-to-cover ratio is presently 0.3 days. Currently, 8.0% of the shares of the company are sold short. Currently, 8.0% of the shares of the company are sold short. Based on an average trading volume of 1,558,559 shares, the days-to-cover ratio is presently 0.3 days.

Beyond Air Price Performance

Beyond Air stock traded down $0.08 during trading hours on Tuesday, hitting $1.08. 221,945 shares of the company traded hands, compared to its average volume of 22,542,110. Beyond Air has a 1-year low of $0.67 and a 1-year high of $10.40. The firm has a market cap of $8.65 million, a P/E ratio of -0.14 and a beta of 0.39. The firm’s 50-day simple moving average is $1.15 and its two-hundred day simple moving average is $1.84. The company has a quick ratio of 3.73, a current ratio of 4.24 and a debt-to-equity ratio of 0.77.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.15). Beyond Air had a negative net margin of 632.51% and a negative return on equity of 261.08%. The company had revenue of $1.82 million during the quarter, compared to the consensus estimate of $2.54 million. As a group, analysts forecast that Beyond Air will post -0.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Beyond Air

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Beyond Air by 57.5% during the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after acquiring an additional 24,695 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Beyond Air during the third quarter valued at $25,000. Alyeska Investment Group L.P. acquired a new position in shares of Beyond Air in the 3rd quarter valued at $1,753,000. Virtu Financial LLC purchased a new position in Beyond Air in the 3rd quarter worth about $48,000. Finally, Osaic Holdings Inc. increased its stake in Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares in the last quarter. 31.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Beyond Air in a research report on Wednesday, January 21st. Weiss Ratings restated a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. Finally, Rodman & Renshaw started coverage on Beyond Air in a report on Tuesday, January 20th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Beyond Air has an average rating of “Hold” and an average price target of $11.00.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.