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

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 154,371 shares, a decline of 79.1% from the February 12th total of 737,269 shares. Based on an average daily trading volume, of 215,423 shares, the days-to-cover ratio is currently 0.7 days. Currently, 1.8% of the company’s shares are sold short. Currently, 1.8% of the company’s shares are sold short. Based on an average daily trading volume, of 215,423 shares, the days-to-cover ratio is currently 0.7 days.

Beyond Air Trading Down 4.0%

NASDAQ XAIR opened at $0.82 on Wednesday. The stock has a market cap of $8.68 million, a P/E ratio of -0.15 and a beta of 0.41. The company’s fifty day simple moving average is $1.15 and its 200-day simple moving average is $1.60. The company has a current ratio of 5.12, a quick ratio of 4.77 and a debt-to-equity ratio of 2.65. Beyond Air has a 52 week low of $0.67 and a 52 week high of $6.44.

Beyond Air (NASDAQ:XAIR) last released its quarterly earnings results on Friday, February 13th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. The firm had revenue of $2.19 million for the quarter, compared to analyst estimates of $2.15 million. Equities research analysts predict that Beyond Air will post -0.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on XAIR. Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Rodman & Renshaw initiated coverage on Beyond Air in a research report on Tuesday, January 20th. They issued a “buy” rating on the stock. Wall Street Zen upgraded Beyond Air to a “sell” rating in a research note on Saturday. Finally, D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 target price on shares of Beyond Air in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.00.

Institutional Trading of Beyond Air

Large investors have recently modified their holdings of the business. Alpine Global Management LLC purchased a new stake in shares of Beyond Air during the third quarter worth about $25,000. Osaic Holdings Inc. boosted its holdings in 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 purchasing an additional 34,000 shares during the last quarter. Virtu Financial LLC purchased a new position in Beyond Air in the third quarter valued at about $48,000. Geode Capital Management LLC grew its stake in Beyond Air by 57.5% during the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after purchasing an additional 24,695 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Beyond Air during the 3rd quarter valued at approximately $1,753,000. 31.50% of the stock is currently owned by institutional investors and hedge funds.

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.