Airgain (NASDAQ:AIRG) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Airgain (NASDAQ:AIRG) in a research note issued to investors on Saturday morning. The brokerage issued a hold rating on the technology company’s stock.

Separately, Craig Hallum reduced their price target on shares of 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 stock opened at $3.99 on Friday. Airgain has a 12 month low of $3.17 and a 12 month high of $10.34. The firm has a market cap of $46.12 million, a PE ratio of -3.50 and a beta of 0.89. The firm has a 50 day simple moving average of $4.37 and a 200 day simple moving average of $6.78.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.11) EPS 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 analysts’ expectations of $16.35 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. As a group, sell-side analysts expect that Airgain will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jacob Suen sold 6,982 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.16, for a total transaction of $29,045.12. Following the completion of the sale, the chief executive officer now directly owns 305,546 shares in the company, valued at approximately $1,271,071.36. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 19,195 shares of company stock worth $88,255. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Airgain

Several institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its holdings in Airgain by 0.5% during the fourth quarter. Ameriprise Financial Inc. now owns 677,584 shares of the technology company’s stock valued at $4,784,000 after buying an additional 3,283 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Airgain by 19.3% during the fourth 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 in the last quarter. Virtu Financial LLC bought a new position in Airgain during the fourth quarter valued at about $73,000. Marshall Wace LLP bought a new position in Airgain during the fourth quarter valued at about $75,000. Finally, Dimensional Fund Advisors LP raised its holdings in Airgain by 12.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 105,954 shares of the technology company’s stock valued at $748,000 after buying an additional 12,000 shares in the last quarter. 52.76% of the stock is currently owned by institutional investors.

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.