Airgain, Inc. (NASDAQ:AIRG – Get Rating) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 126,800 shares, a decrease of 10.8% from the August 15th total of 142,200 shares. Based on an average daily trading volume, of 49,500 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.3% of the shares of the company are short sold.
Airgain Stock Performance
Shares of AIRG stock opened at $8.41 on Monday. Airgain has a 52-week low of $6.75 and a 52-week high of $13.25. The firm has a market capitalization of $85.80 million, a PE ratio of -7.19 and a beta of 0.98. The stock has a fifty day simple moving average of $8.03 and a two-hundred day simple moving average of $8.48.
Airgain (NASDAQ:AIRG – Get Rating) last issued its quarterly earnings results on Thursday, August 11th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Airgain had a negative return on equity of 17.66% and a negative net margin of 17.85%. The business had revenue of $19.29 million during the quarter, compared to analyst estimates of $19.26 million. During the same quarter in the prior year, the business posted ($0.04) EPS. On average, sell-side analysts forecast that Airgain will post -0.46 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Adalta Capital Management LLC bought a new position in shares of Airgain in the 2nd quarter valued at about $211,000. Jane Street Group LLC bought a new position in shares of Airgain in the 2nd quarter valued at about $573,000. Cubist Systematic Strategies LLC bought a new position in shares of Airgain in the 2nd quarter valued at about $110,000. Citadel Advisors LLC lifted its holdings in shares of Airgain by 14.9% in the 2nd quarter. Citadel Advisors LLC now owns 14,927 shares of the technology company’s stock valued at $121,000 after acquiring an additional 1,934 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Airgain in the 2nd quarter valued at about $881,000. Institutional investors own 62.17% of the company’s stock.
Airgain Company Profile
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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