Airgain, Inc. (NASDAQ:AIRG) Sees Significant Drop in Short Interest

Airgain, Inc. (NASDAQ:AIRG) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 136,000 shares, a decline of 15.9% from the November 15th total of 161,800 shares. Based on an average daily trading volume, of 40,800 shares, the days-to-cover ratio is currently 3.3 days. Currently, 1.4% of the company’s shares are short sold.

Insider Activity at Airgain

In related news, CFO Michael Elbaz sold 6,777 shares of Airgain stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $9.09, for a total transaction of $61,602.93. Following the sale, the chief financial officer now directly owns 102,794 shares in the company, valued at $934,397.46. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 16.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Airgain

Several institutional investors and hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in Airgain by 195.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock worth $274,000 after purchasing an additional 24,000 shares in the last quarter. US Bancorp DE raised its holdings in Airgain by 3.7% in the third quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after buying an additional 2,400 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Airgain by 23.2% in the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after buying an additional 20,970 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Airgain by 0.8% during the second quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock valued at $2,128,000 after buying an additional 2,800 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Airgain by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 558,309 shares of the technology company’s stock valued at $3,372,000 after buying an additional 131,675 shares during the last quarter. 52.76% of the stock is currently owned by institutional investors.

Airgain Stock Down 1.8 %

AIRG stock opened at $8.14 on Friday. The business has a 50 day moving average of $9.11 and a 200 day moving average of $7.59. The firm has a market cap of $92.39 million, a PE ratio of -7.14 and a beta of 0.69. Airgain has a twelve month low of $3.06 and a twelve month high of $10.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AIRG. Northland Securities restated an “outperform” rating and set a $11.50 target price (up previously from $8.00) on shares of Airgain in a report on Wednesday, November 13th. Craig Hallum boosted their price objective on shares of Airgain from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.