Beyond Air, Inc. (NASDAQ:XAIR) Receives Average Rating of “Buy” from Analysts

Shares of Beyond Air, Inc. (NASDAQ:XAIR) have been assigned an average rating of “Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.67.

A number of equities analysts recently issued reports on XAIR shares. D. Boral Capital started coverage on shares of Beyond Air in a report on Thursday. They issued a “buy” rating and a $11.00 price objective on the stock. D Boral Capital upgraded shares of Beyond Air to a “strong-buy” rating in a research report on Thursday. Finally, Wall Street Zen raised shares of Beyond Air to a “sell” rating in a report on Friday.

Beyond Air Trading Up 0.6%

Shares of NASDAQ XAIR opened at $3.26 on Friday. The stock has a market cap of $14.08 million, a P/E ratio of -0.21 and a beta of 0.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.20 and a quick ratio of 2.72. Beyond Air has a 1 year low of $2.90 and a 1 year high of $13.52. The firm has a 50-day moving average of $3.73 and a 200 day moving average of $5.25.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Tuesday, June 17th. The company reported ($1.80) EPS for the quarter, topping analysts’ consensus estimates of ($2.80) by $1.00. Beyond Air had a negative net margin of 1,258.46% and a negative return on equity of 233.96%. The firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $1.39 million. As a group, sell-side analysts expect that Beyond Air will post -0.79 EPS for the current fiscal year.

Hedge Funds Weigh In On Beyond Air

Several institutional investors have recently bought and sold shares of XAIR. XTX Topco Ltd bought a new position in Beyond Air during the first quarter valued at $31,000. Wealth Effects LLC lifted its stake in Beyond Air by 42.5% in the second quarter. Wealth Effects LLC now owns 278,100 shares of the company’s stock worth $48,000 after acquiring an additional 83,000 shares during the period. Squarepoint Ops LLC purchased a new stake in Beyond Air in the fourth quarter worth about $48,000. Wealthedge Investment Advisors LLC purchased a new stake in shares of Beyond Air during the fourth quarter valued at about $80,000. Finally, Geode Capital Management LLC lifted its position in shares of Beyond Air by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 562,713 shares of the company’s stock valued at $202,000 after buying an additional 251,823 shares during the last quarter. Institutional investors own 31.50% of the company’s stock.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.