Airgain, Inc. (NASDAQ:AIRG) Expected to Post Quarterly Sales of $14.00 Million

Brokerages expect that Airgain, Inc. (NASDAQ:AIRG) will post sales of $14.00 million for the current quarter, according to Zacks. Four analysts have made estimates for Airgain’s earnings. Airgain posted sales of $12.83 million during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The business is expected to issue its next quarterly earnings results on Thursday, February 17th.

On average, analysts expect that Airgain will report full-year sales of $64.13 million for the current year, with estimates ranging from $64.10 million to $64.20 million. For the next financial year, analysts forecast that the business will post sales of $78.44 million, with estimates ranging from $71.94 million to $82.80 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Airgain.

Airgain (NASDAQ:AIRG) last announced its earnings results on Tuesday, November 9th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.06). Airgain had a negative return on equity of 8.41% and a negative net margin of 10.36%. During the same quarter last year, the firm posted ($0.03) EPS.

A number of equities analysts have issued reports on the stock. William Blair restated a “market perform” rating on shares of Airgain in a research report on Wednesday, November 10th. Zacks Investment Research lowered shares of Airgain from a “hold” rating to a “sell” rating in a research report on Wednesday, November 3rd. Cowen lowered shares of Airgain from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $18.00 to $14.00 in a research report on Thursday, October 14th. TheStreet lowered shares of Airgain from a “c-” rating to a “d+” rating in a research report on Tuesday, October 5th. Finally, B. Riley cut their price objective on shares of Airgain from $27.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.60.

In related news, Director James K. Sims bought 9,701 shares of the stock in a transaction that occurred on Friday, November 12th. The stock was purchased at an average cost of $10.50 per share, for a total transaction of $101,860.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its stake in Airgain by 3.4% during the third quarter. Renaissance Technologies LLC now owns 506,136 shares of the technology company’s stock worth $6,382,000 after buying an additional 16,649 shares during the period. North Run Capital LP grew its stake in Airgain by 73.3% during the second quarter. North Run Capital LP now owns 468,000 shares of the technology company’s stock worth $9,650,000 after buying an additional 198,000 shares during the period. Ameriprise Financial Inc. grew its stake in Airgain by 4.9% during the first quarter. Ameriprise Financial Inc. now owns 360,636 shares of the technology company’s stock worth $7,641,000 after buying an additional 16,706 shares during the period. Penserra Capital Management LLC grew its stake in Airgain by 1.6% during the third quarter. Penserra Capital Management LLC now owns 324,631 shares of the technology company’s stock worth $4,093,000 after buying an additional 5,024 shares during the period. Finally, Taylor Frigon Capital Management LLC grew its stake in Airgain by 0.8% during the third quarter. Taylor Frigon Capital Management LLC now owns 278,838 shares of the technology company’s stock worth $3,516,000 after buying an additional 2,085 shares during the period. Institutional investors own 55.97% of the company’s stock.

AIRG traded up $0.32 during midday trading on Thursday, reaching $9.57. 58,057 shares of the company’s stock were exchanged, compared to its average volume of 112,427. The firm has a market cap of $96.61 million, a PE ratio of -14.72 and a beta of 1.11. The company’s 50-day moving average price is $11.87. Airgain has a 1-year low of $9.05 and a 1-year high of $29.50.

Airgain Company Profile

Airgain, Inc provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The company offers custom antenna design and performance validation services.

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Earnings History and Estimates for Airgain (NASDAQ:AIRG)

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