Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Up 27.5% in February

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,530,000 shares, a growth of 27.5% from the February 13th total of 1,200,000 shares. Based on an average trading volume of 1,550,000 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.8% of the shares of the stock are short sold.

Insider Activity

In related news, Director Robert Carey acquired 1,000,000 shares of Beyond Air stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $0.25 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director now directly owns 4,076,864 shares of the company’s stock, valued at $1,019,216. The trade was a 32.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 20.10% of the company’s stock.

Hedge Funds Weigh In On Beyond Air

Several institutional investors have recently added to or reduced their stakes in XAIR. Alyeska Investment Group L.P. acquired a new position in Beyond Air in the fourth quarter valued at $2,560,000. Balyasny Asset Management L.P. acquired a new position in Beyond Air in the fourth quarter valued at $1,195,000. Soros Fund Management LLC acquired a new position in Beyond Air in the third quarter valued at $573,000. Baldwin Wealth Partners LLC MA increased its stake in Beyond Air by 721.3% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 308,000 shares of the company’s stock valued at $110,000 after purchasing an additional 270,500 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Beyond Air by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 562,713 shares of the company’s stock worth $202,000 after acquiring an additional 251,823 shares during the last quarter. 31.50% of the stock is currently owned by institutional investors and hedge funds.

Beyond Air Stock Up 12.3 %

Shares of NASDAQ:XAIR opened at $0.30 on Tuesday. Beyond Air has a 52-week low of $0.24 and a 52-week high of $1.78. The stock’s fifty day simple moving average is $0.35 and its 200-day simple moving average is $0.41. The company has a market capitalization of $20.75 million, a P/E ratio of -0.28 and a beta of 0.16.

Beyond Air (NASDAQ:XAIR) last released its earnings results on Monday, February 10th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.09. Beyond Air had a negative return on equity of 226.01% and a negative net margin of 1,730.00%. During the same period last year, the company earned ($0.50) earnings per share. On average, sell-side analysts anticipate that Beyond Air will post -0.79 earnings per share for the current year.

About Beyond Air

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.