Beyond Air, Inc. (NASDAQ:XAIR) Sees Large Decrease in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 154,371 shares, a decline of 79.1% from the February 12th total of 737,269 shares. Based on an average daily trading volume, of 215,423 shares, the short-interest ratio is presently 0.7 days. Currently, 1.8% of the company’s stock are sold short. Currently, 1.8% of the company’s stock are sold short. Based on an average daily trading volume, of 215,423 shares, the short-interest ratio is presently 0.7 days.

Hedge Funds Weigh In On Beyond Air

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in Beyond Air by 57.5% during the fourth 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 during the period. Alpine Global Management LLC bought a new position in Beyond Air in the 3rd quarter valued at $25,000. Alyeska Investment Group L.P. bought a new position in Beyond Air in the 3rd quarter valued at $1,753,000. Virtu Financial LLC purchased a new stake in shares of Beyond Air during the 3rd quarter valued at $48,000. Finally, Osaic Holdings Inc. raised its stake in shares of Beyond Air by 26.4% during 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 during the period. 31.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on XAIR. Rodman & Renshaw began coverage on Beyond Air in a research note on Tuesday, January 20th. They issued a “buy” rating for the company. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of Beyond Air in a research report on Tuesday. Wall Street Zen upgraded Beyond Air to a “sell” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.00.

Beyond Air Stock Down 4.0%

XAIR traded down $0.03 during midday trading on Tuesday, reaching $0.82. 87,921 shares of the company were exchanged, compared to its average volume of 9,932,142. The company has a debt-to-equity ratio of 2.65, a quick ratio of 4.77 and a current ratio of 5.12. The company’s fifty day moving average price is $1.14 and its 200 day moving average price is $1.61. The company has a market cap of $8.68 million, a price-to-earnings ratio of -0.15 and a beta of 0.41. Beyond Air has a one year low of $0.67 and a one year high of $6.44.

Beyond Air (NASDAQ:XAIR) last posted its earnings results on Friday, February 13th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). The company had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.15 million. Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. As a group, analysts expect that Beyond Air will post -0.79 EPS for the current year.

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.