Zacks: Analysts Anticipate Airgain, Inc. (NASDAQ:AIRG) Will Announce Earnings of -$0.11 Per Share

Brokerages expect that Airgain, Inc. (NASDAQ:AIRG – Get Rating) will announce earnings of ($0.11) per share for the current quarter, Zacks reports. Four analysts have made estimates for Airgain’s earnings, with estimates ranging from ($0.12) to ($0.11). Airgain posted earnings of $0.03 per share during the same quarter last year, which indicates a negative year over year growth rate of 466.7%. The firm is expected to issue its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Airgain will report full year earnings of ($0.10) per share for the current financial year, with EPS estimates ranging from ($0.21) to $0.02. For the next year, analysts forecast that the firm will report earnings of $0.34 per share, with EPS estimates ranging from $0.19 to $0.48. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Airgain.

Airgain (NASDAQ:AIRG – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The technology company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.02. Airgain had a negative net margin of 15.69% and a negative return on equity of 12.80%. The company had revenue of $14.14 million during the quarter, compared to analyst estimates of $14.00 million. During the same period in the prior year, the firm earned ($0.11) earnings per share.

A number of analysts recently weighed in on AIRG shares. Cowen lowered their price objective on shares of Airgain from $13.00 to $11.00 in a research note on Friday, February 25th. StockNews.com began coverage on shares of Airgain in a research report on Thursday, March 31st. They set 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, B. Riley lowered shares of Airgain from a “buy” rating to a “neutral” rating and decreased their price target for the company from $20.00 to $10.00 in a research report on Tuesday, February 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.50.

In other news, Director James K. Sims acquired 4,612 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were acquired at an average price of $7.60 per share, with a total value of $35,051.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James K. Sims acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was purchased at an average price of $9.08 per share, for a total transaction of $45,400.00. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Taylor Frigon Capital Management LLC lifted its holdings in Airgain by 0.6% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 281,565 shares of the technology company’s stock valued at $2,134,000 after purchasing an additional 1,762 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Airgain by 128.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 29,163 shares of the technology company’s stock valued at $221,000 after purchasing an additional 16,377 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Airgain by 38.4% in the 4th quarter. Penserra Capital Management LLC now owns 449,347 shares of the technology company’s stock valued at $4,776,000 after purchasing an additional 124,716 shares in the last quarter. Susquehanna International Group LLP lifted its holdings in Airgain by 90.0% in the 4th quarter. Susquehanna International Group LLP now owns 73,240 shares of the technology company’s stock valued at $779,000 after purchasing an additional 34,687 shares in the last quarter. Finally, Lynrock Lake LP increased its stake in shares of Airgain by 134.6% in the 4th quarter. Lynrock Lake LP now owns 153,340 shares of the technology company’s stock worth $1,630,000 after acquiring an additional 87,968 shares during the last quarter. Institutional investors own 63.63% of the company’s stock.

NASDAQ:AIRG opened at $8.47 on Friday. Airgain has a 1-year low of $6.79 and a 1-year high of $24.48. The company has a 50-day moving average of $8.06 and a 200 day moving average of $9.53. The firm has a market cap of $86.28 million, a PE ratio of -8.47 and a beta of 1.13.

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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