Airgain (NASDAQ:AIRG) Releases Q2 2022 Earnings Guidance

Airgain (NASDAQ:AIRGGet Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.01-$0.01 for the period, compared to the consensus EPS 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 equities research analysts have issued reports on the stock. StockNews.com upgraded shares of Airgain from a sell rating to a hold rating in a report on Monday, May 23rd. Cowen cut their price objective on Airgain from $13.00 to $11.00 in a report on Friday, February 25th. B. Riley downgraded shares of Airgain from a buy rating to a neutral rating and decreased their price target for the company 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 report on Friday, May 20th. Finally, TheStreet upgraded shares of Airgain from a d rating to a c- rating in a report on Tuesday, May 31st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $14.60.

Shares of AIRG stock opened at $10.59 on Tuesday. The stock has a market cap of $107.91 million, a PE ratio of -8.34 and a beta of 0.94. Airgain has a 52-week low of $6.79 and a 52-week high of $23.60. The business has a 50-day simple moving average of $8.91 and a 200-day simple moving average of $9.35.

Airgain (NASDAQ:AIRGGet Rating) last posted 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 return on equity of 16.01% and a negative net margin of 19.94%. During the same period last year, the firm earned ($0.04) earnings per share. As a group, research analysts expect that Airgain will post -0.4 EPS for the current year.

In other Airgain news, Director James K. Sims acquired 4,612 shares of the stock in a transaction on Tuesday, March 15th. The shares were bought at an average price of $7.60 per share, with a total value of $35,051.20. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 11.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in AIRG. Advisor Group Holdings Inc. grew its position in Airgain by 30.7% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,916 shares of the technology company’s stock worth $38,000 after purchasing an additional 1,154 shares during the last quarter. Wells Fargo & Company MN grew its stake 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 buying an additional 2,300 shares during the last quarter. Engineers Gate Manager LP grew its position in Airgain by 18.4% in the 1st quarter. Engineers Gate Manager LP now owns 14,254 shares of the technology company’s stock worth $108,000 after purchasing an additional 2,214 shares during the last quarter. State Street Corp lifted its holdings in shares of Airgain by 7.3% during the 1st quarter. State Street Corp now owns 40,476 shares of the technology company’s stock worth $307,000 after acquiring an additional 2,756 shares during the period. Finally, Susquehanna International Group LLP lifted its holdings in Airgain by 90.0% during 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 last quarter. 63.63% of the stock is owned by hedge funds and other institutional investors.

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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