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

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 114,054 shares, a drop of 26.1% from the February 26th total of 154,371 shares. Based on an average daily volume of 158,049 shares, the days-to-cover ratio is presently 0.7 days. Currently, 1.3% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several research firms have weighed in on XAIR. D. Boral Capital restated a “buy” rating and set a $10.00 price objective on shares of Beyond Air in a report on Friday. Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Beyond Air to a “sell” rating in a report on Saturday, March 7th. Finally, Rodman & Renshaw assumed coverage on shares of Beyond Air in a research report on Tuesday, January 20th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Alpine Global Management LLC bought a new stake in Beyond Air in the 3rd quarter worth about $25,000. Virtu Financial LLC purchased a new stake in Beyond Air in the 3rd quarter valued at about $48,000. Geode Capital Management LLC lifted its position in shares of Beyond Air by 57.5% during the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after buying an additional 24,695 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after buying an additional 34,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Beyond Air in the 3rd quarter worth approximately $1,753,000. 31.50% of the stock is owned by institutional investors.

Beyond Air Trading Up 4.7%

Shares of Beyond Air stock opened at $0.72 on Friday. The company has a market capitalization of $7.61 million, a P/E ratio of -0.13 and a beta of 0.41. The stock has a fifty day simple moving average of $1.05 and a 200 day simple moving average of $1.46. Beyond Air has a 12-month low of $0.67 and a 12-month high of $5.84. 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 (NASDAQ:XAIR) last issued its quarterly earnings data on Friday, February 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.31). The company had revenue of $2.19 million for the quarter, compared to the consensus estimate of $2.15 million. Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. On average, sell-side analysts anticipate that Beyond Air will post -0.79 earnings per share for the current fiscal year.

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.