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

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totaling 2,435,557 shares, a growth of 927.4% from the December 31st total of 237,064 shares. Based on an average trading volume of 42,823,612 shares, the days-to-cover ratio is currently 0.1 days. Currently, 36.6% of the shares of the stock are short sold. Currently, 36.6% of the shares of the stock are short sold. Based on an average trading volume of 42,823,612 shares, the days-to-cover ratio is currently 0.1 days.

Beyond Air Price Performance

XAIR opened at $1.36 on Wednesday. The company’s 50 day simple moving average is $1.18 and its 200 day simple moving average is $1.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.73 and a current ratio of 4.24. Beyond Air has a 1 year low of $0.67 and a 1 year high of $10.40. The stock has a market capitalization of $10.89 million, a PE ratio of -0.18 and a beta of 0.34.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings results on Monday, November 10th. The company reported ($1.25) EPS for the quarter, missing the consensus estimate of ($1.10) by ($0.15). The company had revenue of $1.82 million for the quarter, compared to analyst estimates of $2.54 million. Beyond Air had a negative return on equity of 261.08% and a negative net margin of 632.51%. As a group, sell-side analysts expect that Beyond Air will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Beyond Air

A number of institutional investors have recently added to or reduced their stakes in XAIR. Virtu Financial LLC acquired a new stake in Beyond Air during the 3rd quarter worth approximately $48,000. Geode Capital Management LLC grew its stake in 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 during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Beyond Air in the third quarter worth $1,753,000. Osaic Holdings Inc. increased 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 worth $29,000 after acquiring an additional 34,000 shares in the last quarter. Finally, Alpine Global Management LLC purchased a new position in shares of Beyond Air in the 3rd quarter valued at $25,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. D. Boral Capital restated a “buy” rating and issued a $11.00 target price on shares of Beyond Air in a report on Wednesday, January 21st. Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. Finally, Rodman & Renshaw started coverage on shares of Beyond Air in a research note on Tuesday, January 20th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

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.