Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Update

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 237,064 shares, a decrease of 19.1% from the December 15th total of 292,952 shares. Based on an average daily trading volume, of 154,692 shares, the short-interest ratio is currently 1.5 days. Approximately 3.6% of the company’s stock are sold short. Approximately 3.6% of the company’s stock are sold short. Based on an average daily trading volume, of 154,692 shares, the short-interest ratio is currently 1.5 days.

Beyond Air Stock Down 1.2%

Shares of NASDAQ:XAIR opened at $1.70 on Monday. Beyond Air has a 1-year low of $0.67 and a 1-year high of $10.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.24 and a quick ratio of 3.73. The stock has a market cap of $13.62 million, a P/E ratio of -0.22 and a beta of 0.34. The firm has a fifty day moving average price of $1.15 and a 200 day moving average price of $2.09.

Beyond Air (NASDAQ:XAIR) last announced its earnings results on Monday, November 10th. The company reported ($1.25) EPS 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 business had revenue of $1.82 million during the quarter, compared to analysts’ expectations of $2.54 million. Sell-side analysts predict that Beyond Air will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

XAIR has been the topic of several research analyst reports. D. Boral Capital reiterated a “buy” rating and set a $11.00 price target on shares of Beyond Air in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Trading of Beyond Air

A number of hedge funds have recently added to or reduced their stakes in XAIR. Wealth Effects LLC grew its holdings in Beyond Air by 42.5% during 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. Alyeska Investment Group L.P. purchased a new stake in shares of Beyond Air during the 3rd quarter worth $1,753,000. Virtu Financial LLC acquired a new position in shares of Beyond Air during the 3rd quarter worth $48,000. Osaic Holdings Inc. increased its holdings in shares of Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Beyond Air by 1.5% in 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 period. 31.50% of the stock is owned by institutional investors and hedge funds.

About Beyond Air

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.