Airgain (NASDAQ:AIRG) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Airgain, Inc. (NASDAQ:AIRG) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $7.73 and traded as low as $6.85. Airgain shares last traded at $6.87, with a volume of 128,960 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIRG. Northland Securities reissued an “outperform” rating and issued a $11.50 price target (up previously from $8.00) on shares of Airgain in a research note on Wednesday, November 13th. Craig Hallum boosted their price target on shares of Airgain from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Airgain Trading Down 5.2 %

The stock has a market capitalization of $77.94 million, a P/E ratio of -6.03 and a beta of 0.72. The company has a 50-day moving average price of $7.73 and a two-hundred day moving average price of $7.93.

Airgain (NASDAQ:AIRG) last issued its earnings results on Tuesday, November 12th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The business had revenue of $16.10 million during the quarter, compared to the consensus estimate of $16.00 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. During the same quarter in the previous year, the firm posted ($0.11) earnings per share. Research analysts forecast that Airgain, Inc. will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In other Airgain news, CFO Michael Elbaz sold 6,777 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $9.09, for a total value of $61,602.93. Following the transaction, the chief financial officer now owns 102,794 shares in the company, valued at approximately $934,397.46. This represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Airgain

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Airgain by 195.5% during the third quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock valued at $274,000 after buying an additional 24,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Airgain by 23.2% during the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after acquiring an additional 20,970 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Airgain by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock worth $2,128,000 after acquiring an additional 2,800 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Airgain by 3.7% in the third quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock valued at $502,000 after purchasing an additional 2,400 shares during the last quarter. 52.76% of the stock is currently owned by institutional investors.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.