Airgain (NASDAQ:AIRG) Stock Rating Lowered by Northland Securities

Airgain (NASDAQ:AIRG) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research report issued on Thursday, Marketbeat reports. They presently have a $4.50 price objective on the technology company’s stock. Northland Securities‘s price objective would suggest a potential upside of 16.88% from the stock’s previous close.

A number of other research firms have also recently commented on AIRG. Weiss Ratings reiterated a “sell (d-)” rating on shares of Airgain in a research note on Wednesday, October 21st. Wall Street Zen lowered shares of Airgain from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.90.

Airgain Trading Down 6.6%

Shares of Airgain stock opened at $3.85 on Thursday. The business’s fifty day simple moving average is $4.57 and its 200 day simple moving average is $5.46. Airgain has a 12 month low of $3.00 and a 12 month high of $7.66.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings data on Tuesday, November 10th. The technology company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $15.32 million for the quarter, compared to analysts’ expectations of $15.24 million. Airgain had a negative return on equity of 13.79% and a negative net margin of 12.59%. On average, sell-side analysts predict that Airgain will post -0.19 earnings per share for the current year.

Insider Activity

In related news, Director James K. Sims purchased 8,269 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were bought at an average price of $5.11 per share, with a total value of $42,254.59. Following the acquisition, the director owned 457,733 shares of the company’s stock, valued at $2,339,015.63. This trade represents a 1.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have purchased 16,500 shares of company stock worth $84,821. Company insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Airgain

Institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Airgain by 4.6% during the first quarter. Renaissance Technologies LLC now owns 336,336 shares of the technology company’s stock valued at $1,850,000 after purchasing an additional 14,700 shares during the period. BlackRock Inc. purchased a new stake in Airgain during the 2nd quarter worth about $1,355,000. Whitcomb & Hess Inc. lifted its holdings in shares of Airgain by 10.4% in the third quarter. Whitcomb & Hess Inc. now owns 62,615 shares of the technology company’s stock worth $311,000 after buying an additional 5,909 shares in the last quarter. AXQ Capital LP bought a new position in Airgain in the 2nd quarter valued at $79,000. Finally, Bank of America Corp DE bought a new stake in Airgain during the second quarter valued at $77,000. 52.76% of the stock is owned by institutional investors.

Airgain Company Profile

Airgain, Inc. is a wireless connectivity company that designs and develops antenna systems, embedded components and related products for connected devices and networks. Its technologies are intended to improve the performance, reliability and coverage of wireless communications across cellular, Wi-Fi and other radio-frequency applications. The company serves markets including automotive, consumer electronics, enterprise networking, public safety, fixed wireless access and the Internet of Things.