Airgain (NASDAQ:AIRG) Raised to “Buy” at Zacks Investment Research

Airgain (NASDAQ:AIRGGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage currently has a $11.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 8.70% from the stock’s previous close.

According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “

Several other equities research analysts also recently weighed in on the stock. B. Riley downgraded shares of Airgain from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $20.00 to $10.00 in a report on Tuesday, February 22nd. Cowen reduced their price objective on shares of Airgain from $13.00 to $11.00 in a report on Friday, February 25th. Finally, StockNews.com initiated coverage on shares of Airgain in a report on Thursday, March 31st. They issued a “sell” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.60.

Shares of AIRG traded up $0.22 during midday trading on Friday, hitting $10.12. 1,146 shares of the stock traded hands, compared to its average volume of 60,359. Airgain has a 1-year low of $6.79 and a 1-year high of $23.60. The firm has a market capitalization of $103.12 million, a PE ratio of -7.91 and a beta of 0.95. The business’s 50 day moving average price is $8.36 and its two-hundred day moving average price is $9.40.

Airgain (NASDAQ:AIRGGet Rating) last announced its quarterly earnings results on Tuesday, May 10th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. Airgain had a negative net margin of 19.94% and a negative return on equity of 16.01%. During the same quarter in the prior year, the business earned ($0.04) earnings per share. As a group, equities analysts forecast that Airgain will post -0.57 earnings per share for the current fiscal year.

In related news, Director James K. Sims acquired 4,612 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were purchased at an average price of $7.60 per share, for a total transaction of $35,051.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James K. Sims acquired 5,000 shares of the business’s stock in a transaction on Tuesday, March 1st. The shares were bought 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 insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AIRG. State Street Corp grew its stake in shares of Airgain by 7.3% in the 1st quarter. State Street Corp now owns 40,476 shares of the technology company’s stock valued at $307,000 after buying an additional 2,756 shares in the last quarter. Engineers Gate Manager LP grew its stake in shares of Airgain by 18.4% in the 1st quarter. Engineers Gate Manager LP now owns 14,254 shares of the technology company’s stock valued at $108,000 after buying an additional 2,214 shares in the last quarter. Granahan Investment Management LLC grew its stake in shares of Airgain by 1.2% in the 1st quarter. Granahan Investment Management LLC now owns 510,509 shares of the technology company’s stock valued at $3,870,000 after buying an additional 6,247 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Airgain by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 483,958 shares of the technology company’s stock valued at $3,668,000 after buying an additional 16,859 shares in the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Airgain by 16.7% in the 1st quarter. Blair William & Co. IL now owns 739,511 shares of the technology company’s stock valued at $5,605,000 after buying an additional 105,601 shares in the last quarter. Hedge funds and other institutional investors own 63.63% of the company’s stock.

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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