Airgain (NASDAQ:AIRG) Upgraded to Buy by Zacks Investment Research


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Airgain (NASDAQ:AIRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $20.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 0.55% from the stock’s current price.

According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “

Several other research firms have also recently weighed in on AIRG. ValuEngine cut Airgain from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. B. Riley lifted their price target on Airgain from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 8th. Finally, Roth Capital lifted their price target on Airgain from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $20.75.

Shares of NASDAQ AIRG opened at $20.11 on Tuesday. Airgain has a 12 month low of $5.63 and a 12 month high of $20.24. The stock has a 50 day moving average of $15.34 and a 200-day moving average of $13.53. The company has a market capitalization of $196.43 million, a P/E ratio of -91.41 and a beta of 1.31.

Airgain (NASDAQ:AIRG) last issued its earnings results on Thursday, November 5th. The technology company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.08. Airgain had a negative return on equity of 4.50% and a negative net margin of 4.39%. The company had revenue of $13.01 million during the quarter, compared to the consensus estimate of $12.78 million. On average, equities analysts predict that Airgain will post -0.28 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Advisers LP raised its holdings in Airgain by 9.1% in the 2nd quarter. Two Sigma Advisers LP now owns 11,975 shares of the technology company’s stock valued at $129,000 after acquiring an additional 1,000 shares in the last quarter. Perkins Capital Management Inc. acquired a new position in Airgain in the 3rd quarter valued at $180,000. GSA Capital Partners LLP acquired a new position in Airgain in the 3rd quarter valued at $192,000. O Shaughnessy Asset Management LLC acquired a new position in Airgain in the 3rd quarter valued at $195,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Airgain in the 3rd quarter valued at $286,000. 47.60% of the stock is owned by hedge funds and other institutional investors.

Airgain Company Profile

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.

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