Airgain (NASDAQ:AIRG) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Airgain (NASDAQ:AIRG) from a hold rating to a buy rating in a report released on Saturday morning.

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

Airgain Price Performance

AIRG opened at $3.85 on Friday. The business has a 50 day moving average price of $6.04 and a two-hundred day moving average price of $7.47. The company has a market capitalization of $44.50 million, a price-to-earnings ratio of -3.38 and a beta of 0.67. Airgain has a 1-year low of $3.85 and a 1-year high of $10.34.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings data 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). The firm had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.35 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. Equities analysts expect that Airgain will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In other Airgain news, CEO Jacob Suen sold 6,982 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.16, for a total value of $29,045.12. Following the completion of the transaction, the chief executive officer now directly owns 305,546 shares in the company, valued at $1,271,071.36. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders have sold 19,195 shares of company stock worth $88,255 in the last three months. 16.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Airgain

Several hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in Airgain by 0.5% during the 4th quarter. Ameriprise Financial Inc. now owns 677,584 shares of the technology company’s stock worth $4,784,000 after purchasing an additional 3,283 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Airgain by 10.8% during the fourth quarter. Renaissance Technologies LLC now owns 404,036 shares of the technology company’s stock valued at $2,852,000 after buying an additional 39,436 shares in the last quarter. Geode Capital Management LLC raised its position in Airgain by 23.2% during the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after buying an additional 20,970 shares during the period. Dimensional Fund Advisors LP boosted its position in Airgain by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 105,954 shares of the technology company’s stock worth $748,000 after acquiring an additional 12,000 shares during the period. Finally, Northern Trust Corp grew its stake in Airgain by 69.4% during the 4th quarter. Northern Trust Corp now owns 64,861 shares of the technology company’s stock valued at $458,000 after acquiring an additional 26,573 shares in the last quarter. 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.