StockNews.com Downgrades Airgain (NASDAQ:AIRG) to Hold

Airgain (NASDAQ:AIRG) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Separately, Craig Hallum cut their price target on Airgain from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Friday, February 28th.

Airgain Trading Up 8.3 %

Shares of Airgain stock traded up $0.28 during trading on Wednesday, hitting $3.67. 25,831 shares of the stock traded hands, compared to its average volume of 34,111. The stock’s fifty day simple moving average is $5.23 and its 200 day simple moving average is $7.21. The firm has a market cap of $42.42 million, a P/E ratio of -3.22 and a beta of 0.89. Airgain has a 52-week low of $3.17 and a 52-week high of $10.34.

Airgain (NASDAQ:AIRG) last posted its earnings results on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.35 million. As a group, equities analysts expect that Airgain will post -0.53 EPS for the current year.

Insider Buying and Selling

In other Airgain news, CEO Jacob Suen sold 6,982 shares of Airgain stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.16, for a total value of $29,045.12. Following the transaction, the chief executive officer now directly owns 305,546 shares of the company’s stock, valued at approximately $1,271,071.36. The trade was a 2.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 19,195 shares of company stock worth $88,255 in the last 90 days. 16.10% of the stock is owned by corporate insiders.

Institutional Trading of Airgain

Several hedge funds and other institutional investors have recently made changes to their positions in AIRG. Geode Capital Management LLC boosted its holdings in Airgain by 23.2% in the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after acquiring an additional 20,970 shares in the last quarter. Bailard Inc. purchased a new position in shares of Airgain in the 4th quarter valued at approximately $235,000. Essex Investment Management Co. LLC acquired a new stake in Airgain in the 4th quarter worth approximately $145,000. Farther Finance Advisors LLC grew its position in Airgain by 19.3% during the 4th quarter. Farther Finance Advisors LLC now owns 43,277 shares of the technology company’s stock worth $306,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Airgain during the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 52.76% of the company’s stock.

Airgain Company Profile

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.