Arthur M. Toscanini Sells 3,088 Shares of Airgain, Inc. (NASDAQ:AIRG) Stock

Airgain, Inc. (NASDAQ:AIRG) Director Arthur M. Toscanini sold 3,088 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $4.12, for a total transaction of $12,722.56. Following the completion of the sale, the director now owns 89,956 shares of the company’s stock, valued at approximately $370,618.72. This represents a 3.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Airgain Stock Down 1.7%

AIRG opened at $4.05 on Wednesday. The stock has a market capitalization of $47.77 million, a price-to-earnings ratio of -3.55 and a beta of 0.87. Airgain, Inc. has a twelve month low of $3.17 and a twelve month high of $10.34. The company has a 50-day simple moving average of $3.86 and a 200 day simple moving average of $6.22.

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). Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. The business had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.35 million. Sell-side analysts anticipate that Airgain, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AIRG. Bailard Inc. acquired a new position in Airgain in the fourth quarter valued at $235,000. Essex Investment Management Co. LLC acquired a new stake in Airgain during the 4th quarter worth about $145,000. Farther Finance Advisors LLC raised its position in shares of Airgain by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 43,277 shares of the technology company’s stock worth $306,000 after acquiring an additional 7,000 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Airgain in the 4th quarter valued at about $73,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Airgain in the 4th quarter valued at about $107,000. Institutional investors and hedge funds own 52.76% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AIRG shares. StockNews.com began coverage on Airgain in a report on Tuesday. They set a “hold” rating on the stock. Craig Hallum reduced their price objective on shares of Airgain from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, May 8th.

Airgain Company Profile

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.