Airgain (NASDAQ:AIRG) Raised to Buy at StockNews.com

Airgain (NASDAQ:AIRG) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Craig Hallum dropped their price objective on Airgain from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 28th.

Airgain Stock Down 2.8 %

NASDAQ AIRG opened at $3.85 on Friday. Airgain has a 52 week low of $3.85 and a 52 week high of $10.34. The firm has a 50 day moving average of $6.04 and a two-hundred day moving average of $7.48. The stock has a market capitalization of $44.50 million, a PE ratio of -3.38 and a beta of 0.67.

Airgain (NASDAQ:AIRG) last issued its 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). The firm had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.35 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. On average, equities research analysts expect that Airgain will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jacob Suen sold 6,982 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.16, for a total value of $29,045.12. Following the completion of the sale, the chief executive officer now directly owns 305,546 shares of the company’s stock, valued at approximately $1,271,071.36. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 19,195 shares of company stock worth $88,255. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AIRG. Virtu Financial LLC purchased a new stake in Airgain in the fourth quarter valued at approximately $73,000. Marshall Wace LLP acquired a new position in shares of Airgain in the 4th quarter valued at $75,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Airgain in the 4th quarter valued at $107,000. Essex Investment Management Co. LLC purchased a new stake in Airgain in the 4th quarter valued at $145,000. Finally, Jane Street Group LLC acquired a new stake in Airgain during the 4th quarter worth $192,000. Hedge funds and other institutional investors own 52.76% of the company’s stock.

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.