StockNews.com Initiates Coverage on Airgain (NASDAQ:AIRG)

Equities research analysts at StockNews.com started coverage on shares of Airgain (NASDAQ:AIRG) in a research note issued on Tuesday. The firm set a “hold” rating on the technology company’s stock.

Separately, Craig Hallum reduced their price target on shares of Airgain from $9.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th.

Airgain Price Performance

Airgain stock opened at $4.01 on Tuesday. The stock’s fifty day moving average price is $3.86 and its two-hundred day moving average price is $6.20. Airgain has a one year low of $3.17 and a one year high of $10.34. The firm has a market cap of $47.29 million, a PE ratio of -3.52 and a beta of 0.87.

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

Insider Transactions at Airgain

In other Airgain news, CEO Jacob Suen sold 6,982 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 305,546 shares in the company, valued at $1,271,071.36. This trade represents a 2.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arthur M. Toscanini sold 6,912 shares of the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $4.01, for a total transaction of $27,717.12. Following the sale, the director now directly owns 89,956 shares in the company, valued at approximately $360,723.56. The trade was a 7.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,250 shares of company stock valued at $133,021. Corporate insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AIRG. Virtu Financial LLC acquired a new position in Airgain in the 4th quarter worth about $73,000. Marshall Wace LLP bought a new stake in shares of Airgain during the fourth quarter worth about $75,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Airgain in the fourth quarter valued at approximately $107,000. Essex Investment Management Co. LLC bought a new position in Airgain in the 4th quarter valued at approximately $145,000. Finally, Jane Street Group LLC bought a new position in Airgain in the 4th quarter valued at approximately $192,000. 52.76% of the stock is currently 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.