Beyond Air (NASDAQ:XAIR) Lowered to Sell Rating by Wall Street Zen

Beyond Air (NASDAQ:XAIR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Several other research analysts have also recently issued reports on the stock. D Boral Capital raised shares of Beyond Air to a “strong-buy” rating in a report on Thursday, July 17th. D. Boral Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Beyond Air in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.50.

Beyond Air Price Performance

Shares of Beyond Air stock opened at $2.32 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.72 and a current ratio of 3.24. The stock has a market capitalization of $12.13 million, a PE ratio of -0.19 and a beta of 0.25. Beyond Air has a 52-week low of $2.22 and a 52-week high of $13.52. The company has a 50-day simple moving average of $3.42 and a two-hundred day simple moving average of $4.59.

Beyond Air (NASDAQ:XAIR) last issued its earnings results on Tuesday, August 12th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($0.03). The firm had revenue of $1.76 million during the quarter, compared to analysts’ expectations of $1.75 million. Beyond Air had a negative return on equity of 232.61% and a negative net margin of 880.72%. On average, analysts anticipate that Beyond Air will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Beyond Air by 1.5% during the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after purchasing an additional 12,598 shares during the last quarter. Wealth Effects LLC raised its holdings in shares of Beyond Air by 42.5% during the second quarter. Wealth Effects LLC now owns 278,100 shares of the company’s stock valued at $48,000 after purchasing an additional 83,000 shares during the last quarter. Kingdon Capital Management L.L.C. raised its holdings in shares of Beyond Air by 65.0% during the first quarter. Kingdon Capital Management L.L.C. now owns 936,683 shares of the company’s stock valued at $255,000 after purchasing an additional 369,157 shares during the last quarter. Wealthedge Investment Advisors LLC raised its holdings in shares of Beyond Air by 230.0% during the first quarter. Wealthedge Investment Advisors LLC now owns 732,934 shares of the company’s stock valued at $200,000 after purchasing an additional 510,807 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Beyond Air during the first quarter valued at approximately $31,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

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.