Short Interest in Airgain, Inc. (NASDAQ:AIRG) Drops By 36.0%

Airgain, Inc. (NASDAQ:AIRG – Get Rating) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 145,600 shares, a drop of 36.0% from the March 15th total of 227,500 shares. Based on an average trading volume of 53,000 shares, the short-interest ratio is presently 2.7 days. Currently, 1.5% of the company’s stock are sold short.

Shares of AIRG stock opened at $8.32 on Friday. Airgain has a 1 year low of $6.79 and a 1 year high of $24.48. The firm has a fifty day moving average price of $8.28 and a 200-day moving average price of $9.88. The company has a market cap of $84.78 million, a price-to-earnings ratio of -8.32 and a beta of 1.13.

Airgain (NASDAQ:AIRG – Get Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.01). Airgain had a negative net margin of 15.69% and a negative return on equity of 12.80%. During the same quarter in the prior year, the company posted ($0.11) EPS. As a group, sell-side analysts expect that Airgain will post -0.57 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the stock. B. Riley downgraded shares of Airgain from a “buy” rating to a “neutral” rating and reduced their price target for the company from $20.00 to $10.00 in a research report on Tuesday, February 22nd. StockNews.com assumed coverage on shares of Airgain in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research raised shares of Airgain from a “sell” rating to a “hold” rating in a research report on Tuesday, January 11th. Finally, Cowen cut their target price on shares of Airgain from $13.00 to $11.00 in a research report on Friday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.50.

In other news, Director James K. Sims purchased 5,000 shares of Airgain stock in a transaction that occurred on Tuesday, March 1st. The stock was bought at an average price of $9.08 per share, with a total value of $45,400.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James K. Sims purchased 4,612 shares of Airgain stock in a transaction that occurred on Tuesday, March 15th. The shares were purchased at an average cost of $7.60 per share, with a total value of $35,051.20. The disclosure for this purchase can be found here. 11.70% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Barclays PLC lifted its stake in shares of Airgain by 99.9% during the 3rd quarter. Barclays PLC now owns 3,038 shares of the technology company’s stock valued at $39,000 after buying an additional 1,518 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Airgain by 33.2% during the 4th quarter. Victory Capital Management Inc. now owns 8,154 shares of the technology company’s stock valued at $87,000 after buying an additional 2,034 shares in the last quarter. Raymond James & Associates purchased a new position in shares of Airgain during the 4th quarter valued at $108,000. Wells Fargo & Company MN lifted its stake in shares of Airgain by 64.5% during the 2nd quarter. Wells Fargo & Company MN now owns 5,865 shares of the technology company’s stock valued at $121,000 after buying an additional 2,300 shares in the last quarter. Finally, CAPROCK Group Inc. lifted its stake in shares of Airgain by 19.2% during the 4th quarter. CAPROCK Group Inc. now owns 31,000 shares of the technology company’s stock valued at $330,000 after buying an additional 5,000 shares in the last quarter. 55.10% of the stock is owned by hedge funds and other institutional investors.

Airgain Company Profile (Get Rating)

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; SmartMax embedded antennas; and MaxBeam carrier class antennas, as well as automotive, fleet, public safety, and machine-to-machine antennas under the Antenna Plus brand.

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