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

Airgain (NASDAQ:AIRG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

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

Airgain Trading Up 8.3 %

Shares of AIRG stock traded up $0.28 during trading hours on Wednesday, hitting $3.67. The company’s stock had a trading volume of 25,831 shares, compared to its average volume of 34,111. The company has a 50 day moving average of $5.23 and a 200 day moving average of $7.21. Airgain has a 12-month low of $3.17 and a 12-month high of $10.34. The stock has a market cap of $42.42 million, a PE ratio of -3.22 and a beta of 0.89.

Airgain (NASDAQ:AIRG) last announced 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). The company had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.35 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. As a group, analysts anticipate that Airgain will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jacob Suen sold 6,982 shares of Airgain stock in a transaction dated Monday, March 17th. The stock was 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 owns 305,546 shares in the company, valued at $1,271,071.36. The trade was a 2.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders sold 19,195 shares of company stock worth $88,255. Company insiders own 16.10% of the company’s stock.

Institutional Trading of Airgain

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of 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 buying an additional 20,970 shares in the last quarter. Virtu Financial LLC acquired a new position in Airgain during the fourth quarter worth $73,000. Farther Finance Advisors LLC raised its position in Airgain by 19.3% during the fourth quarter. Farther Finance Advisors LLC now owns 43,277 shares of the technology company’s stock worth $306,000 after acquiring an additional 7,000 shares during the period. Essex Investment Management Co. LLC purchased a new position in Airgain during the fourth quarter valued at $145,000. Finally, Bailard Inc. acquired a new stake in shares of Airgain in the fourth quarter valued at about $235,000. 52.76% of the stock is owned by institutional investors and hedge funds.

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.