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

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 124,457 shares, an increase of 88.6% from the April 15th total of 65,992 shares. Based on an average trading volume of 418,301 shares, the short-interest ratio is currently 0.3 days. Currently, 1.0% of the company’s shares are sold short.

Beyond Air Stock Up 5.9%

XAIR stock traded up $0.03 during mid-day trading on Friday, reaching $0.50. 169,798 shares of the company traded hands, compared to its average volume of 361,318. Beyond Air has a fifty-two week low of $0.42 and a fifty-two week high of $5.84. The firm’s 50 day moving average price is $0.66 and its 200 day moving average price is $1.04. The stock has a market cap of $6.57 million, a price-to-earnings ratio of -0.09 and a beta of 0.30. The company has a quick ratio of 4.77, a current ratio of 5.12 and a debt-to-equity ratio of 2.65.

Beyond Air (NASDAQ:XAIR) last announced 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). Beyond Air had a negative return on equity of 268.82% and a negative net margin of 447.75%.The business had revenue of $2.19 million during the quarter, compared to analysts’ expectations of $2.15 million.

Hedge Funds Weigh In On Beyond Air

A number of hedge funds and other institutional investors have recently modified their holdings of XAIR. Geode Capital Management LLC boosted its stake in shares of Beyond Air by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after buying an additional 12,598 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of 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 buying an additional 34,000 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Beyond Air in the 3rd quarter worth approximately $48,000. Alyeska Investment Group L.P. purchased a new position in shares of Beyond Air in the 3rd quarter worth approximately $1,753,000. Finally, Alpine Global Management LLC purchased a new position in shares of Beyond Air in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on XAIR shares. Rodman & Renshaw started coverage on Beyond Air in a research report on Tuesday, January 20th. They issued a “buy” rating for the company. Wall Street Zen raised Beyond Air to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a research report on Friday, April 24th. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of Beyond Air in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $10.00.

Beyond Air Company Profile

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.