Beyond Air, Inc. (NASDAQ:XAIR) Sees Significant Decline in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant decline in short interest in December. As of December 15th, there was short interest totaling 292,952 shares, a decline of 20.6% from the November 30th total of 368,768 shares. Based on an average daily trading volume, of 119,012 shares, the short-interest ratio is currently 2.5 days. Currently, 4.5% of the shares of the company are short sold. Currently, 4.5% of the shares of the company are short sold. Based on an average daily trading volume, of 119,012 shares, the short-interest ratio is currently 2.5 days.

Institutional Trading of Beyond Air

Several large investors have recently made changes to their positions in the company. Wealth Effects LLC lifted its holdings in Beyond Air by 42.5% in the 2nd 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 in the last quarter. Geode Capital Management LLC grew 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 worth $144,000 after buying an additional 12,598 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after buying an additional 34,000 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Beyond Air in the third quarter worth about $48,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Beyond Air in the third quarter worth about $1,753,000. 31.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings restated a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. D. Boral Capital reiterated a “buy” rating and set a $11.00 price target on shares of Beyond Air in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Beyond Air Stock Down 6.3%

XAIR stock opened at $0.70 on Tuesday. Beyond Air has a 52 week low of $0.67 and a 52 week high of $10.40. The company has a quick ratio of 3.73, a current ratio of 4.24 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $1.40 and a 200-day simple moving average of $2.36. The stock has a market capitalization of $5.64 million, a P/E ratio of -0.09 and a beta of 0.31.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.15). Beyond Air had a negative net margin of 632.51% and a negative return on equity of 261.08%. The company had revenue of $1.82 million during the quarter, compared to analysts’ expectations of $2.54 million. Equities analysts forecast that Beyond Air will post -0.79 earnings per share for the current fiscal year.

Beyond Air Company Profile

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.