Analysts expect that Airgain, Inc. (NASDAQ:AIRG) will post $12.34 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Airgain’s earnings, with the highest sales estimate coming in at $12.38 million and the lowest estimate coming in at $12.30 million. Airgain reported sales of $11.25 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.7%. The business is scheduled to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Airgain will report full year sales of $59.49 million for the current year, with estimates ranging from $59.30 million to $59.68 million. For the next year, analysts anticipate that the business will report sales of $67.28 million per share, with estimates ranging from $67.00 million to $67.55 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Airgain.
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 the Zacks’ consensus estimate of $0.05 by $0.05. The business had revenue of $12.81 million during the quarter, compared to analyst estimates of $12.73 million. Airgain had a net margin of 2.30% and a return on equity of 4.81%. The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS.
A number of research firms recently weighed in on AIRG. Northland Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Airgain in a report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Airgain from a “strong-buy” rating to a “sell” rating in a research note on Friday, February 23rd. Finally, B. Riley downgraded shares of Airgain from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Friday, February 16th.
In other Airgain news, CEO Charles A. Myers sold 15,000 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles A. Myers sold 18,229 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $9.00, for a total transaction of $164,061.00. Following the transaction, the insider now owns 18,229 shares in the company, valued at $164,061. The disclosure for this sale can be found here. Insiders have sold a total of 43,660 shares of company stock worth $410,548 over the last quarter. 23.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC bought a new position in Airgain during the 4th quarter valued at $102,000. Worth Venture Partners LLC boosted its stake in Airgain by 50.1% during the 4th quarter. Worth Venture Partners LLC now owns 67,982 shares of the technology company’s stock valued at $611,000 after acquiring an additional 22,690 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in Airgain during the 4th quarter valued at $314,000. Bank of New York Mellon Corp boosted its stake in Airgain by 32.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 241,690 shares of the technology company’s stock valued at $2,196,000 after acquiring an additional 59,481 shares during the last quarter. Finally, Rice Hall James & Associates LLC boosted its stake in Airgain by 40.8% during the 4th quarter. Rice Hall James & Associates LLC now owns 209,207 shares of the technology company’s stock valued at $1,881,000 after acquiring an additional 60,585 shares during the last quarter. Hedge funds and other institutional investors own 26.89% of the company’s stock.
AIRG traded up $0.23 during trading hours on Monday, reaching $8.52. 9,345 shares of the stock traded hands, compared to its average volume of 63,444. The firm has a market cap of $79.93, a price-to-earnings ratio of 77.41 and a beta of 2.08. Airgain has a fifty-two week low of $7.31 and a fifty-two week high of $16.23.
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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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