Airgain Inc (NASDAQ:AIRG) saw a significant decline in short interest during the month of November. As of November 29th, there was short interest totalling 303,400 shares, a decline of 10.6% from the November 14th total of 339,400 shares. Based on an average daily volume of 57,700 shares, the short-interest ratio is presently 5.3 days. Currently, 3.8% of the company’s shares are sold short.
Hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new stake in Airgain in the second quarter valued at approximately $35,000. Russell Investments Group Ltd. bought a new stake in Airgain in the third quarter valued at approximately $121,000. Millennium Management LLC bought a new stake in Airgain in the third quarter valued at approximately $128,000. Squarepoint Ops LLC bought a new stake in Airgain in the third quarter valued at approximately $139,000. Finally, Wells Fargo & Company MN boosted its holdings in Airgain by 366.4% in the second quarter. Wells Fargo & Company MN now owns 10,532 shares of the technology company’s stock valued at $148,000 after acquiring an additional 8,274 shares during the last quarter. Institutional investors and hedge funds own 50.92% of the company’s stock.
Several analysts have recently weighed in on the company. B. Riley cut Airgain from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $11.50 in a report on Tuesday, November 26th. ValuEngine cut Airgain from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. William Blair cut Airgain from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 26th. Finally, Cowen reduced their target price on Airgain from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.13.
Airgain (NASDAQ:AIRG) last announced its earnings results on Thursday, November 7th. The technology company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.11. Airgain had a return on equity of 4.59% and a net margin of 3.61%. The business had revenue of $13.10 million for the quarter, compared to analysts’ expectations of $12.83 million. During the same period in the prior year, the business posted $0.09 earnings per share. The firm’s revenue was down 17.1% on a year-over-year basis. Sell-side analysts predict that Airgain will post 0.06 earnings per share for the current year.
Airgain Company Profile
Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.
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