Airgain, Inc. (NASDAQ:AIRG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Airgain, Inc. (NASDAQ:AIRG) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.20.

AIRG has been the topic of several analyst reports. Lake Street Capital assumed coverage on shares of Airgain in a report on Wednesday, January 21st. They issued a “buy” rating and a $6.00 price target on the stock. Royal Bank Of Canada set a $6.00 price target on shares of Airgain in a report on Wednesday, January 21st. Craig Hallum lowered their price objective on shares of Airgain from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Northland Securities decreased their price objective on Airgain from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Airgain in a research note on Wednesday, January 21st.

Insider Activity

In other news, CEO Jacob Suen sold 15,993 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $4.00, for a total value of $63,972.00. Following the sale, the chief executive officer directly owned 293,635 shares in the company, valued at approximately $1,174,540. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 43,179 shares of company stock valued at $182,993. Company insiders own 17.80% of the company’s stock.

Hedge Funds Weigh In On Airgain

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position in shares of Airgain by 24.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 38,500 shares of the technology company’s stock worth $167,000 after purchasing an additional 7,500 shares during the period. Marathon Capital Management bought a new stake in Airgain during the second quarter valued at $42,000. Susquehanna International Group LLP acquired a new stake in Airgain during the 3rd quarter worth about $91,000. Citadel Advisors LLC grew its holdings in Airgain by 270.1% during the 3rd quarter. Citadel Advisors LLC now owns 27,214 shares of the technology company’s stock worth $118,000 after acquiring an additional 43,214 shares during the period. Finally, Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Airgain in the 4th quarter valued at about $934,000. Institutional investors own 52.76% of the company’s stock.

Airgain Stock Performance

AIRG stock opened at $5.58 on Friday. The firm has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $4.23. Airgain has a 52 week low of $3.00 and a 52 week high of $7.39. The stock has a market cap of $66.74 million, a P/E ratio of -11.16 and a beta of 0.94.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings results on Wednesday, November 12th. The technology company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $14.02 million during the quarter, compared to analysts’ expectations of $14.13 million. Airgain had a negative return on equity of 16.03% and a negative net margin of 10.87%. Sell-side analysts predict that Airgain will post -0.53 EPS for the current year.

Airgain Company Profile

Airgain, Inc (NASDAQ: AIRG) is a provider of intelligent wireless connectivity solutions designed to enhance data transmission, network performance and antenna efficiency for a range of devices. Headquartered in San Diego, California, the company develops both embedded and external antenna systems, as well as associated connectivity software, to support wireless applications across cellular, Wi-Fi, machine-to-machine (M2M) and Internet of Things (IoT) markets.

The company’s product portfolio includes modular smart antennas, parallel path phase-diversity antennas and advanced array antenna solutions that are optimized for environments such as smart homes, industrial automation, transportation and enterprise networking.