Airgain (NASDAQ:AIRG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “sell” rating in a research report issued on Friday.
According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “
Other equities research analysts also recently issued reports about the stock. B. Riley downgraded shares of Airgain from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a research report on Friday, February 16th. Northland Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Airgain in a research report on Friday, November 10th.
Shares of Airgain (NASDAQ AIRG) traded down $0.09 during trading hours on Friday, hitting $9.04. The stock had a trading volume of 60,900 shares, compared to its average volume of 82,076. Airgain has a 12 month low of $7.31 and a 12 month high of $16.23. The company has a market capitalization of $87.45, a PE ratio of 82.19 and a beta of 1.86. The company has a current ratio of 5.02, a quick ratio of 4.95 and a debt-to-equity ratio of 0.01.
Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Airgain had a net margin of 2.30% and a return on equity of 4.82%. The company had revenue of $12.81 million during the quarter, compared to the consensus estimate of $12.73 million. During the same period in the previous year, the business earned $0.12 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. analysts forecast that Airgain will post 0.17 earnings per share for the current year.
In other Airgain news, Director Arthur M. Toscanini sold 8,023 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $9.34, for a total transaction 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 SEC, which can be accessed through the SEC website. Also, CEO Charles A. Myers sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. The disclosure for this sale can be found here. 23.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in AIRG. Cortina Asset Management LLC acquired a new position in Airgain during the third quarter valued at approximately $3,317,000. Rice Hall James & Associates LLC acquired a new position in shares of Airgain during the third quarter worth $1,351,000. Taylor Frigon Capital Management LLC acquired a new position in shares of Airgain during the fourth quarter worth $1,184,000. Skylands Capital LLC increased its holdings in shares of Airgain by 35.6% during the fourth quarter. Skylands Capital LLC now owns 276,400 shares of the technology company’s stock worth $2,485,000 after buying an additional 72,494 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Airgain by 32.6% during 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 buying an additional 59,481 shares in the last quarter. Institutional investors and hedge funds own 22.98% of the company’s stock.
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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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