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

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,500,000 shares, a growth of 23.2% from the March 15th total of 2,840,000 shares. Based on an average daily volume of 299,900 shares, the short-interest ratio is currently 11.7 days.

Beyond Air Stock Performance

Shares of Beyond Air stock opened at $1.44 on Monday. The firm has a market capitalization of $51.90 million, a P/E ratio of -0.68 and a beta of -0.18. Beyond Air has a 52 week low of $1.17 and a 52 week high of $6.40. The company has a quick ratio of 3.26, a current ratio of 3.39 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $1.75 and its two-hundred day moving average is $1.82.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings data on Monday, February 12th. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.11. The firm had revenue of $0.39 million during the quarter, compared to analyst estimates of $0.49 million. During the same period in the previous year, the company posted ($0.43) earnings per share. Research analysts forecast that Beyond Air will post -1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Air

Several large investors have recently modified their holdings of the company. Northern Trust Corp boosted its holdings in shares of Beyond Air by 1.5% in the second quarter. Northern Trust Corp now owns 81,906 shares of the company’s stock valued at $548,000 after acquiring an additional 1,186 shares during the period. BlackRock Inc. boosted its holdings in shares of Beyond Air by 0.8% in the first quarter. BlackRock Inc. now owns 289,242 shares of the company’s stock valued at $1,952,000 after acquiring an additional 2,156 shares during the period. Citigroup Inc. lifted its holdings in shares of Beyond Air by 4.4% during the first quarter. Citigroup Inc. now owns 59,847 shares of the company’s stock worth $404,000 after purchasing an additional 2,498 shares during the period. UBS Group AG lifted its holdings in shares of Beyond Air by 14.3% during the first quarter. UBS Group AG now owns 32,400 shares of the company’s stock worth $216,000 after purchasing an additional 4,042 shares during the period. Finally, State Street Corp lifted its holdings in shares of Beyond Air by 5.0% during the third quarter. State Street Corp now owns 88,007 shares of the company’s stock worth $655,000 after purchasing an additional 4,200 shares during the period. 31.50% of the stock is owned by institutional investors and hedge funds.

About Beyond Air

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.