Airgain (NASDAQ:AIRG) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Airgain (NASDAQ:AIRG) in a research report released on Tuesday. The firm issued a hold rating on the technology company’s stock.

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

Airgain Stock Performance

AIRG opened at $4.05 on Tuesday. The company has a market capitalization of $47.77 million, a P/E ratio of -3.55 and a beta of 0.87. The company has a 50-day moving average of $3.86 and a 200-day moving average of $6.22. Airgain has a 1-year low of $3.17 and a 1-year high of $10.34.

Airgain (NASDAQ:AIRG) last posted 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). The firm had revenue of $15.08 million during 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%. As a group, sell-side analysts expect that Airgain will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Airgain news, CEO Jacob Suen sold 12,093 shares of Airgain stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $4.85, for a total value of $58,651.05. Following the completion of the transaction, the chief executive officer now directly owns 229,999 shares in the company, valued at $1,115,495.15. The trade was a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arthur M. Toscanini sold 6,912 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $4.01, for a total value of $27,717.12. Following the transaction, the director now directly owns 89,956 shares of the company’s stock, valued at $360,723.56. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,195 shares of company stock valued at $128,695. Company insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AIRG. Virtu Financial LLC bought a new stake in Airgain in the fourth quarter valued at $73,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Airgain in the 4th quarter worth about $107,000. Renaissance Technologies LLC lifted its position in Airgain by 10.8% in the 4th quarter. Renaissance Technologies LLC now owns 404,036 shares of the technology company’s stock valued at $2,852,000 after purchasing an additional 39,436 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Airgain by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 43,277 shares of the technology company’s stock valued at $306,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in Airgain during the 4th quarter valued at about $145,000. 52.76% of the stock is currently owned by institutional investors.

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.