Beyond Air (NASDAQ:XAIR) Releases Quarterly Earnings Results, Misses Expectations By $0.20 EPS

Beyond Air (NASDAQ:XAIR) released its quarterly earnings results on Friday. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.20), Zacks reports. Beyond Air had a negative return on equity of 268.82% and a negative net margin of 447.75%.

Beyond Air Stock Performance

Beyond Air stock opened at $0.48 on Friday. Beyond Air has a fifty-two week low of $0.33 and a fifty-two week high of $4.78. The company has a market capitalization of $6.30 million, a price-to-earnings ratio of -0.09 and a beta of 0.26. The stock has a fifty day moving average of $0.46 and a two-hundred day moving average of $0.81. The company has a debt-to-equity ratio of 2.65, a quick ratio of 4.77 and a current ratio of 5.12.

Analyst Ratings Changes

A number of analysts have commented on the company. Wall Street Zen upgraded Beyond Air to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Air in a research report on Friday, April 24th. Finally, D. Boral Capital reissued a “buy” rating and issued a $10.00 price objective on shares of Beyond Air in a research note on Friday, March 27th. Two 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, the stock has a consensus rating of “Hold” and an average price target of $10.00.

Institutional Trading of Beyond Air

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of Beyond Air by 1.5% in the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after buying an additional 12,598 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Beyond Air in the third quarter valued at $48,000. Osaic Holdings Inc. grew its position in shares of Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Beyond Air in the third quarter valued at $1,753,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

Beyond Air Company Profile

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.