Craig Hallum Cuts Airgain (NASDAQ:AIRG) Price Target to $7.00

Airgain (NASDAQ:AIRG) had its price objective dropped by investment analysts at Craig Hallum from $9.00 to $7.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target indicates a potential upside of 75.88% from the stock’s current price.

Separately, StockNews.com started coverage on Airgain in a report on Sunday, May 4th. They issued a “hold” rating on the stock.

Airgain Stock Performance

Shares of NASDAQ AIRG opened at $3.98 on Thursday. The stock has a market cap of $46.94 million, a price-to-earnings ratio of -3.49 and a beta of 0.87. The business has a 50 day simple moving average of $3.97 and a 200 day simple moving average of $6.49. Airgain has a 52 week low of $3.17 and a 52 week high of $10.34.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The company had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.35 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. On average, analysts predict that Airgain will post -0.53 EPS for the current year.

Insider Activity

In other news, CEO Jacob Suen sold 6,982 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.16, for a total value of $29,045.12. Following the completion of the transaction, the chief executive officer now owns 305,546 shares in the company, valued at approximately $1,271,071.36. This represents a 2.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 19,195 shares of company stock valued at $88,255. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AIRG. Ameriprise Financial Inc. boosted its position in Airgain by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 677,584 shares of the technology company’s stock valued at $4,784,000 after buying an additional 3,283 shares in the last quarter. Jane Street Group LLC acquired a new stake in Airgain during the 4th quarter valued at $192,000. Northern Trust Corp raised its position in Airgain by 69.4% in the 4th quarter. Northern Trust Corp now owns 64,861 shares of the technology company’s stock valued at $458,000 after purchasing an additional 26,573 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Airgain by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 105,954 shares of the technology company’s stock valued at $748,000 after buying an additional 12,000 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Airgain in the fourth quarter valued at $75,000. 52.76% of the stock is owned by institutional investors.

Airgain Company Profile

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.