Analysts Expect Airgain, Inc. (NASDAQ:AIRG) Will Announce Quarterly Sales of $19.26 Million

Wall Street brokerages predict that Airgain, Inc. (NASDAQ:AIRG – Get Rating) will announce sales of $19.26 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Airgain’s earnings, with estimates ranging from $19.20 million to $19.40 million. Airgain posted sales of $17.30 million in the same quarter last year, which suggests a positive year over year growth rate of 11.3%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Airgain will report full year sales of $80.43 million for the current fiscal year, with estimates ranging from $79.62 million to $82.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $91.13 million, with estimates ranging from $82.20 million to $96.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Airgain.

Airgain (NASDAQ:AIRG – Get Rating) last posted its earnings results on Tuesday, May 10th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. Airgain had a negative return on equity of 16.01% and a negative net margin of 19.94%. During the same period last year, the company posted ($0.04) EPS.

Several analysts have recently weighed in on AIRG shares. StockNews.com assumed coverage on shares of Airgain in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Zacks Investment Research raised Airgain from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Friday. Cowen lowered their target price on Airgain from $13.00 to $11.00 in a research note on Friday, February 25th. Finally, B. Riley cut shares of Airgain from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $10.00 in a research report on Tuesday, February 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.60.

In other Airgain news, Director James K. Sims purchased 5,000 shares of the business’s stock in a transaction dated 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James K. Sims purchased 4,612 shares of the business’s stock in a transaction dated Tuesday, March 15th. The shares were acquired at an average price of $7.60 per share, for a total transaction of $35,051.20. The disclosure for this purchase can be found here. Insiders own 11.70% of the company’s stock.

Several large investors have recently modified their holdings of the company. Penserra Capital Management LLC lifted its holdings in Airgain by 38.4% in the fourth quarter. Penserra Capital Management LLC now owns 449,347 shares of the technology company’s stock valued at $4,776,000 after buying an additional 124,716 shares during the period. Blair William & Co. IL raised its holdings in shares of Airgain by 20.6% during the fourth quarter. Blair William & Co. IL now owns 633,910 shares of the technology company’s stock valued at $6,738,000 after purchasing an additional 108,342 shares during the period. Lynrock Lake LP raised its holdings in shares of Airgain by 134.6% during the fourth quarter. Lynrock Lake LP now owns 153,340 shares of the technology company’s stock valued at $1,630,000 after purchasing an additional 87,968 shares during the period. Lewis Capital Management LLC acquired a new position in shares of Airgain during the fourth quarter valued at about $917,000. Finally, North Run Capital LP raised its holdings in shares of Airgain by 7.7% during the fourth quarter. North Run Capital LP now owns 764,500 shares of the technology company’s stock valued at $8,127,000 after purchasing an additional 54,500 shares during the period. Institutional investors own 63.63% of the company’s stock.

Shares of AIRG opened at $10.15 on Friday. Airgain has a 12 month low of $6.79 and a 12 month high of $23.60. The stock has a market capitalization of $103.42 million, a price-to-earnings ratio of -7.99 and a beta of 0.95. The firm has a fifty day simple moving average of $8.41 and a 200 day simple moving average of $9.39.

About Airgain (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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