Airgain (NASDAQ:AIRG) Cut to Hold at StockNews.com

StockNews.com cut shares of Airgain (NASDAQ:AIRG) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

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

Airgain Price Performance

AIRG opened at $3.41 on Wednesday. The stock’s 50 day simple moving average is $5.10 and its 200 day simple moving average is $7.16. The stock has a market cap of $39.42 million, a P/E ratio of -2.99 and a beta of 0.89. Airgain has a 1-year low of $3.17 and a 1-year high of $10.34.

Airgain (NASDAQ:AIRG) last posted its 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 firm had revenue of $15.08 million during the quarter, compared to analyst estimates of $16.35 million. Research analysts expect that Airgain will post -0.53 EPS for the current fiscal year.

Insider Activity at Airgain

In related news, CEO Jacob Suen sold 12,093 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $4.85, for a total transaction of $58,651.05. Following the transaction, the chief executive officer now owns 229,999 shares of the company’s stock, valued at approximately $1,115,495.15. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 19,195 shares of company stock valued at $88,255 over the last quarter. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of Airgain by 23.2% in the third 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 period. Virtu Financial LLC acquired a new stake in Airgain in the 4th quarter worth about $73,000. Farther Finance Advisors LLC grew its holdings in Airgain by 19.3% in the 4th quarter. Farther Finance Advisors LLC now owns 43,277 shares of the technology company’s stock valued at $306,000 after buying an additional 7,000 shares during the period. Essex Investment Management Co. LLC purchased a new stake in Airgain in the 4th quarter valued at about $145,000. Finally, Bailard Inc. acquired a new position in shares of Airgain during the 4th quarter valued at about $235,000. 52.76% of the stock is currently owned by institutional investors and hedge funds.

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.