Airgain (NASDAQ:AIRG) Stock Rating Upgraded by StockNews.com

Airgain (NASDAQ:AIRG) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Separately, Craig Hallum reduced their target price on Airgain from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Airgain Price Performance

Shares of Airgain stock opened at $3.85 on Friday. The stock’s 50 day simple moving average is $6.04 and its 200-day simple moving average is $7.48. The stock has a market cap of $44.50 million, a P/E ratio of -3.38 and a beta of 0.67. Airgain has a 1-year low of $3.85 and a 1-year high of $10.34.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The company had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.35 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. As a group, research analysts expect that Airgain will post -0.53 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jacob Suen sold 6,982 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.16, for a total value of $29,045.12. Following the sale, the chief executive officer now owns 305,546 shares in the company, valued at approximately $1,271,071.36. The trade was a 2.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 19,195 shares of company stock valued at $88,255. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Airgain

Hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Airgain during the fourth quarter worth about $73,000. Marshall Wace LLP purchased a new stake in Airgain during the 4th quarter worth approximately $75,000. Arrowstreet Capital Limited Partnership acquired a new stake in Airgain during the 4th quarter worth approximately $107,000. Essex Investment Management Co. LLC purchased a new position in Airgain in the 4th quarter valued at approximately $145,000. Finally, Jane Street Group LLC acquired a new position in shares of Airgain in the fourth quarter worth $192,000. 52.76% of the stock is currently owned by hedge funds and other 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.