Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Grows By 164.5%

Beyond Air, Inc. (NASDAQ:XAIR) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 72,945 shares, an increase of 164.5% from the August 15th total of 27,574 shares. Based on an average trading volume of 899,742 shares, the short-interest ratio is currently 0.1 days. Currently, 8.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities analysts have recently commented on XAIR shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a report on Tuesday, July 21st. Lake Street Capital assumed coverage on Beyond Air in a research note on Tuesday, September 1st. They issued a “buy” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Beyond Air Price Performance

XAIR stock traded down $0.01 during midday trading on Tuesday, reaching $3.13. 4,488 shares of the stock were exchanged, compared to its average volume of 208,623. The stock has a market capitalization of $3.01 million, a PE ratio of -0.05 and a beta of 0.13. Beyond Air has a 52 week low of $3.06 and a 52 week high of $55.60. The company has a debt-to-equity ratio of 7.81, a current ratio of 3.31 and a quick ratio of 3.12. The company has a fifty day moving average price of $5.38 and a 200 day moving average price of $9.45.

Beyond Air (NASDAQ:XAIR) last posted its earnings results on Thursday, August 13th. The company reported ($11.00) EPS for the quarter, missing the consensus estimate of ($10.80) by ($0.20). Beyond Air had a negative net margin of 435.71% and a negative return on equity of 440.26%. The firm had revenue of $1.77 million during the quarter, compared to the consensus estimate of $1.93 million.

Insider Activity

In other news, CEO Robert Scott Goodman purchased 34,722 shares of Beyond Air stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average price of $5.76 per share, for a total transaction of $199,998.72. Following the transaction, the chief executive officer owned 34,822 shares of the company’s stock, valued at approximately $200,574.72. The trade was a 34,722.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.99% of the company’s stock.

About Beyond Air

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.