Airgain (NASDAQ:AIRG) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Airgain (NASDAQ:AIRGGet Rating) issued its quarterly earnings data on Tuesday. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.19, MarketWatch Earnings reports. Airgain had a negative return on equity of 12.80% and a negative net margin of 15.69%. During the same period last year, the company earned ($0.04) earnings per share. Airgain updated its Q2 2022 guidance to $0.01-$0.01 EPS.

NASDAQ:AIRG opened at $9.79 on Thursday. The company has a market capitalization of $99.75 million, a P/E ratio of -9.79 and a beta of 0.95. Airgain has a 12 month low of $6.79 and a 12 month high of $23.60. The business’s 50-day moving average is $8.14 and its 200 day moving average is $9.39.

Several analysts recently commented on AIRG shares. StockNews.com started coverage on Airgain in a report on Thursday, March 31st. They issued a “sell” rating for the company. B. Riley lowered Airgain from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $10.00 in a report on Tuesday, February 22nd. Finally, Cowen cut their price target on Airgain from $13.00 to $11.00 in a report on Friday, February 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.50.

In other Airgain news, Director James K. Sims bought 5,000 shares of the business’s stock in a transaction dated Tuesday, March 1st. The shares were purchased at an average price of $9.08 per share, with a total value of $45,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James K. Sims bought 4,612 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were acquired at an average cost of $7.60 per share, for a total transaction of $35,051.20. The disclosure for this purchase can be found here. 11.70% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP grew its stake in shares of Airgain by 90.0% during the fourth quarter. Susquehanna International Group LLP now owns 73,240 shares of the technology company’s stock valued at $779,000 after buying an additional 34,687 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Airgain by 64.5% during the second 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 during the last quarter. Finally, Advisor Group Holdings Inc. grew its stake in shares of Airgain by 30.7% during the first quarter. Advisor Group Holdings Inc. now owns 4,916 shares of the technology company’s stock valued at $38,000 after buying an additional 1,154 shares during the last quarter. 63.63% of the stock is currently 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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Earnings History for Airgain (NASDAQ:AIRG)

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