Craig Hallum Lowers Airgain (NASDAQ:AIRG) Price Target to $9.00

Airgain (NASDAQ:AIRG) had its price target cut by analysts at Craig Hallum from $12.00 to $9.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would suggest a potential upside of 61.15% from the stock’s previous close.

Separately, Northland Securities reiterated an “outperform” rating and issued a $11.50 price objective (up previously from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

Airgain Stock Down 9.0 %

Shares of AIRG stock traded down $0.56 during mid-day trading on Friday, reaching $5.59. 15,459 shares of the stock traded hands, compared to its average volume of 27,110. Airgain has a 1-year low of $3.72 and a 1-year high of $10.34. The stock’s fifty day simple moving average is $7.03 and its two-hundred day simple moving average is $7.91. The company has a market cap of $63.36 million, a price-to-earnings ratio of -4.90 and a beta of 0.71.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.14). Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. The company had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.35 million. On average, equities research analysts anticipate that Airgain will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Airgain

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its holdings in shares of Airgain by 3.7% in the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after purchasing an additional 2,400 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Airgain by 195.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock valued at $274,000 after acquiring an additional 24,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Airgain by 23.2% during the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after purchasing an additional 20,970 shares during the last quarter. Bailard Inc. bought a new stake in Airgain during the 4th quarter worth approximately $235,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Airgain in the fourth quarter worth approximately $145,000. Institutional investors own 52.76% of the company’s stock.

About Airgain

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.