Airgain (AIRG) Downgraded to Neutral at B. Riley

B. Riley downgraded shares of Airgain (NASDAQ:AIRG) from a buy rating to a neutral rating in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage currently has $10.00 price objective on the technology company’s stock. B. Riley also issued estimates for Airgain’s Q4 2017 earnings at $0.01 EPS, FY2017 earnings at $0.07 EPS, Q1 2018 earnings at $0.00 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.07 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.20 EPS.

Other equities research analysts have also recently issued research reports about the company. Northland Securities reaffirmed a buy rating and issued a $15.00 price target on shares of Airgain in a report on Friday, November 10th. Zacks Investment Research raised Airgain from a sell rating to a hold rating in a report on Thursday, February 1st.

Airgain (AIRG) opened at $9.38 on Friday. Airgain has a fifty-two week low of $7.31 and a fifty-two week high of $17.00. The company has a current ratio of 5.02, a quick ratio of 4.95 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $89.85, a P/E ratio of 42.64 and a beta of 1.86.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Airgain had a return on equity of 4.82% and a net margin of 2.30%. The firm had revenue of $12.81 million during the quarter, compared to analysts’ expectations of $12.73 million. During the same quarter last year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. equities research analysts expect that Airgain will post 0.17 EPS for the current fiscal year.

In related news, Director Arthur M. Toscanini sold 8,023 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $9.34, for a total value of $74,934.82. Following the completion of the transaction, the director now directly owns 71,587 shares in the company, valued at $668,622.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles A. Myers sold 15,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $10.00, for a total value of $150,000.00. The disclosure for this sale can be found here. Corporate insiders own 23.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of AIRG. Vanguard Group Inc. grew its position in Airgain by 14.7% in the second quarter. Vanguard Group Inc. now owns 253,971 shares of the technology company’s stock worth $3,601,000 after acquiring an additional 32,587 shares during the period. Skylands Capital LLC purchased a new position in Airgain in the third quarter worth approximately $1,854,000. Rice Hall James & Associates LLC purchased a new position in Airgain in the third quarter worth approximately $1,351,000. Bank of New York Mellon Corp grew its position in Airgain by 32.6% in the third quarter. Bank of New York Mellon Corp now owns 241,690 shares of the technology company’s stock worth $2,196,000 after acquiring an additional 59,481 shares during the period. Finally, Commonwealth Equity Services Inc purchased a new position in Airgain in the third quarter worth approximately $118,000. Institutional investors own 22.98% of the company’s stock.

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Airgain Company Profile

Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.

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