Airgain (NASDAQ:AIRG) Stock Rating Upgraded by Zacks Investment Research

Airgain (NASDAQ:AIRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $20.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential downside of 0.55% from the stock’s previous close.

According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “

A number of other analysts have also recently weighed in on the company. B. Riley upped their price target on Airgain from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 8th. Roth Capital increased their target price on Airgain from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, January 8th. Finally, ValuEngine cut Airgain from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $20.75.

Shares of NASDAQ:AIRG opened at $20.11 on Tuesday. The business’s fifty day moving average price is $15.34 and its two-hundred day moving average price is $13.53. Airgain has a fifty-two week low of $5.63 and a fifty-two week high of $20.24. The stock has a market capitalization of $196.43 million, a price-to-earnings ratio of -91.41 and a beta of 1.31.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. Airgain had a negative return on equity of 4.50% and a negative net margin of 4.39%. The firm had revenue of $13.01 million for the quarter, compared to analysts’ expectations of $12.78 million. Equities research analysts forecast that Airgain will post -0.28 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of AIRG. Essex Investment Management Co. LLC bought a new position in Airgain in the third quarter valued at about $1,429,000. Jane Street Group LLC bought a new position in Airgain in the second quarter valued at about $478,000. Arrowstreet Capital Limited Partnership boosted its holdings in Airgain by 196.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 63,312 shares of the technology company’s stock valued at $845,000 after acquiring an additional 41,947 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Airgain by 152.5% in the third quarter. Acadian Asset Management LLC now owns 51,124 shares of the technology company’s stock valued at $681,000 after acquiring an additional 30,880 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Airgain by 209.5% in the second quarter. Goldman Sachs Group Inc. now owns 41,297 shares of the technology company’s stock valued at $444,000 after acquiring an additional 27,955 shares during the last quarter. Institutional investors and hedge funds own 47.60% of the company’s stock.

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. The company's 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.

Read More: How does equity income fit into an investing strategy?

Get a free copy of the Zacks research report on Airgain (AIRG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Airgain Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Airgain and related companies with MarketBeat.com's FREE daily email newsletter.