Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Rises By 143.2%

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,080,000 shares, an increase of 143.2% from the September 15th total of 444,100 shares. Based on an average daily trading volume, of 526,200 shares, the days-to-cover ratio is currently 2.1 days.

Beyond Air Stock Down 2.7 %

NASDAQ XAIR traded down $0.01 during trading hours on Friday, hitting $0.32. 110,204 shares of the company were exchanged, compared to its average volume of 537,148. The company has a 50 day moving average of $0.41 and a two-hundred day moving average of $0.86. The company has a quick ratio of 2.42, a current ratio of 2.63 and a debt-to-equity ratio of 0.84. The firm has a market cap of $14.97 million, a price-to-earnings ratio of -0.20 and a beta of -0.12. Beyond Air has a 52-week low of $0.30 and a 52-week high of $2.61.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.12. The company had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.72 million. Beyond Air had a negative return on equity of 240.15% and a negative net margin of 3,272.46%. During the same period last year, the firm earned ($0.45) earnings per share. Equities research analysts anticipate that Beyond Air will post -1.03 earnings per share for the current year.

Insider Activity

In other news, CEO Steven A. Lisi purchased 1,476,626 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were purchased at an average cost of $0.50 per share, with a total value of $738,313.00. Following the completion of the acquisition, the chief executive officer now owns 3,249,411 shares of the company’s stock, valued at approximately $1,624,705.50. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Steven A. Lisi bought 100,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $0.39 per share, for a total transaction of $39,000.00. Following the acquisition, the chief executive officer now directly owns 1,722,785 shares in the company, valued at approximately $671,886.15. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Steven A. Lisi purchased 1,476,626 shares of Beyond Air stock in a transaction dated Thursday, September 26th. The shares were bought at an average price of $0.50 per share, for a total transaction of $738,313.00. Following the acquisition, the chief executive officer now owns 3,249,411 shares in the company, valued at approximately $1,624,705.50. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,615,892 shares of company stock valued at $793,019 in the last quarter. 19.00% of the stock is currently owned by company insiders.

Institutional Trading of Beyond Air

A number of large investors have recently made changes to their positions in XAIR. Point72 Asia Singapore Pte. Ltd. purchased a new position in Beyond Air in the 2nd quarter valued at $47,000. Gendell Jeffrey L lifted its position in Beyond Air by 30.4% in the first quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock valued at $2,542,000 after purchasing an additional 340,774 shares during the period. Finally, Vanguard Group Inc. increased its position in Beyond Air by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock worth $2,435,000 after purchasing an additional 66,224 shares during the period. 31.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Roth Mkm reiterated a “buy” rating and issued a $2.00 price objective on shares of Beyond Air in a research report on Friday, August 16th. BTIG Research downgraded shares of Beyond Air from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 25th. Piper Sandler dropped their target price on shares of Beyond Air from $3.50 to $1.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Roth Capital upgraded Beyond Air to a “strong-buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Beyond Air has an average rating of “Buy” and a consensus price target of $3.67.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.