Essex Investment Management Co. LLC Purchases Shares of 20,602 Airgain, Inc. (NASDAQ:AIRG)

Essex Investment Management Co. LLC acquired a new stake in Airgain, Inc. (NASDAQ:AIRG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,602 shares of the technology company’s stock, valued at approximately $145,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bailard Inc. bought a new stake in shares of Airgain in the fourth quarter worth about $235,000. US Bancorp DE lifted its holdings in Airgain by 3.7% in the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after buying an additional 2,400 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Airgain by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after buying an additional 20,970 shares during the last quarter. 52.76% of the stock is owned by institutional investors.

Airgain Stock Performance

Airgain stock opened at $4.80 on Monday. Airgain, Inc. has a fifty-two week low of $3.72 and a fifty-two week high of $10.34. The stock has a market cap of $55.48 million, a price-to-earnings ratio of -4.21 and a beta of 0.67. The stock’s 50 day simple moving average is $6.81 and its two-hundred day simple moving average is $7.82.

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

Analyst Ratings Changes

AIRG has been the subject of a number of recent analyst reports. Craig Hallum decreased their target price on Airgain from $12.00 to $9.00 and set a “buy” rating for the company in a report on Friday, February 28th. Northland Securities restated an “outperform” rating and issued a $11.50 price objective (up from $8.00) on shares of Airgain in a report on Wednesday, November 13th.

About Airgain

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.