Airgain, Inc. (NASDAQ:AIRG) Sees Significant Drop in Short Interest

Airgain, Inc. (NASDAQ:AIRG) was the recipient of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 126,193 shares, a decline of 13.3% from the February 12th total of 145,484 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average daily volume of 47,298 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 47,298 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.3% of the shares of the company are sold short.

Insiders Place Their Bets

In other Airgain news, CEO Jacob Suen sold 6,112 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $5.01, for a total transaction of $30,621.12. Following the completion of the sale, the chief executive officer owned 287,523 shares in the company, valued at $1,440,490.23. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 41,245 shares of company stock worth $177,405 in the last three months. 17.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Airgain

Hedge funds and other institutional investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in Airgain by 24.2% in the third 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 acquired a new position in Airgain during the 2nd quarter valued at about $42,000. XTX Topco Ltd acquired a new position in Airgain during the 4th quarter valued at about $44,000. Susquehanna International Group LLP bought a new stake in shares of Airgain during the 3rd quarter worth about $91,000. Finally, Citadel Advisors LLC raised its position in shares of 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 buying an additional 43,214 shares in the last quarter. 52.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AIRG has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Airgain in a report on Wednesday, January 21st. Lake Street Capital assumed coverage on shares of Airgain in a research note on Wednesday, January 21st. They set a “buy” rating and a $6.00 price objective on the stock. Northland Securities cut their target price on shares of Airgain from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. Finally, Royal Bank Of Canada set a $6.00 target price on Airgain in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.20.

Airgain Price Performance

Shares of AIRG stock opened at $3.96 on Tuesday. Airgain has a 12-month low of $3.00 and a 12-month high of $5.85. The firm has a market capitalization of $48.39 million, a price-to-earnings ratio of -7.47 and a beta of 0.93. The business has a 50 day simple moving average of $4.50 and a 200 day simple moving average of $4.24.

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.