Airgain, Inc. (NASDAQ:AIRG) Short Interest Up 13.3% in April

Airgain, Inc. (NASDAQ:AIRG) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 163,843 shares, a growth of 13.3% from the March 31st total of 144,632 shares. Based on an average daily volume of 98,845 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.6% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages have weighed in on AIRG. Wall Street Zen raised Airgain to a “hold” rating in a research report on Saturday, March 28th. Royal Bank Of Canada set a $6.00 target price on Airgain in a research report on Wednesday, January 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Airgain in a research report on Monday, April 20th. Finally, Lake Street Capital began coverage on Airgain in a research report on Wednesday, January 21st. They issued a “buy” rating and a $6.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Airgain presently has a consensus rating of “Moderate Buy” and an average target price of $6.20.

Insiders Place Their Bets

In other Airgain news, CEO Jacob Suen sold 37,314 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $4.12, for a total value of $153,733.68. Following the sale, the chief executive officer directly owned 284,431 shares of the company’s stock, valued at $1,171,855.72. This trade represents a 11.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Ali Sadri sold 13,638 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $4.12, for a total value of $56,188.56. Following the completion of the sale, the chief technology officer directly owned 126,263 shares in the company, valued at $520,203.56. This represents a 9.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 83,653 shares of company stock valued at $360,404 over the last three months. Company insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Airgain in the fourth quarter worth $44,000. Nano Cap New Millennium Growth Fund L P bought a new position in Airgain during the fourth quarter valued at about $934,000. Susquehanna International Group LLP bought a new position in Airgain during the third quarter valued at about $91,000. Citadel Advisors LLC boosted its stake in Airgain by 270.1% during the third quarter. Citadel Advisors LLC now owns 27,214 shares of the technology company’s stock valued at $118,000 after buying an additional 43,214 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in Airgain by 24.2% during the third quarter. Farther Finance Advisors LLC now owns 38,500 shares of the technology company’s stock valued at $167,000 after buying an additional 7,500 shares in the last quarter. Institutional investors own 52.76% of the company’s stock.

Airgain Stock Performance

NASDAQ:AIRG opened at $7.07 on Friday. Airgain has a 1 year low of $3.00 and a 1 year high of $7.20. The stock has a market cap of $86.40 million, a price-to-earnings ratio of -13.34 and a beta of 0.76. The business has a fifty day moving average of $5.28 and a 200-day moving average of $4.60.

About Airgain

Airgain, Inc (NASDAQ: AIRG) is a provider of intelligent wireless connectivity solutions designed to enhance data transmission, network performance and antenna efficiency for a range of devices. Headquartered in San Diego, California, the company develops both embedded and external antenna systems, as well as associated connectivity software, to support wireless applications across cellular, Wi-Fi, machine-to-machine (M2M) and Internet of Things (IoT) markets.

The company’s product portfolio includes modular smart antennas, parallel path phase-diversity antennas and advanced array antenna solutions that are optimized for environments such as smart homes, industrial automation, transportation and enterprise networking.