Zacks Investment Research Upgrades Airgain (NASDAQ:AIRG) to “Hold”

Zacks Investment Research upgraded shares of Airgain (NASDAQ:AIRG) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

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. “

AIRG has been the subject of several other reports. B. Riley reduced their price target on Airgain from $27.00 to $20.00 and set a buy rating for the company in a research report on Monday, November 1st. Craig Hallum initiated coverage on Airgain in a research report on Thursday, December 16th. They issued a buy rating and a $16.00 price target for the company. Cowen cut Airgain from an outperform rating to a market perform rating and reduced their price target for the company from $18.00 to $14.00 in a research report on Thursday, October 14th. TheStreet cut Airgain from a c- rating to a d+ rating in a research report on Tuesday, October 5th. Finally, William Blair restated a market perform rating on shares of Airgain in a research report on Wednesday, November 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $20.67.

NASDAQ:AIRG opened at $10.79 on Tuesday. The business has a fifty day simple moving average of $10.36 and a two-hundred day simple moving average of $13.56. Airgain has a 1 year low of $9.05 and a 1 year high of $29.50. The company has a market capitalization of $108.93 million, a P/E ratio of -16.60 and a beta of 1.07.

Airgain (NASDAQ:AIRG) last released its earnings results on Tuesday, November 9th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). Airgain had a negative return on equity of 8.41% and a negative net margin of 10.36%. The firm had revenue of $15.46 million during the quarter, compared to analysts’ expectations of $15.85 million. During the same period in the prior year, the business earned ($0.03) earnings per share. Analysts forecast that Airgain will post -0.63 EPS for the current year.

In other news, Director James K. Sims purchased 6,000 shares of the company’s stock in a transaction on Wednesday, November 24th. The stock was purchased at an average price of $9.54 per share, with a total value of $57,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James K. Sims purchased 9,701 shares of the company’s stock in a transaction on Friday, November 12th. The shares were purchased at an average cost of $10.50 per share, with a total value of $101,860.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 16,000 shares of company stock valued at $162,231. 11.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp bought a new stake in shares of Airgain in the 2nd quarter valued at about $984,000. Renaissance Technologies LLC lifted its stake in shares of Airgain by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 489,487 shares of the technology company’s stock valued at $10,093,000 after acquiring an additional 12,751 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its stake in shares of Airgain by 0.8% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 278,838 shares of the technology company’s stock valued at $3,516,000 after acquiring an additional 2,085 shares during the last quarter. North Run Capital LP lifted its stake in shares of Airgain by 73.3% in the 2nd quarter. North Run Capital LP now owns 468,000 shares of the technology company’s stock valued at $9,650,000 after acquiring an additional 198,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Airgain by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 226,629 shares of the technology company’s stock valued at $4,673,000 after acquiring an additional 17,122 shares during the last quarter. 56.20% of the stock is owned by institutional investors.

Airgain Company Profile

Airgain, Inc provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The company offers custom antenna design and performance validation services.

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