Zacks Investment Research upgraded shares of Airgain (NASDAQ:AIRG) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. The brokerage currently has $16.00 price objective on the technology company’s stock.
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. “
Several other equities analysts have also weighed in on AIRG. ValuEngine lowered shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Northland Securities set a $50.00 price objective on shares of Polarityte and gave the company a buy rating in a report on Friday, May 10th. Finally, B. Riley increased their price objective on shares of Airgain from $19.00 to $22.00 and gave the company a buy rating in a report on Monday, May 6th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $17.75.
Shares of AIRG traded down $0.11 during mid-day trading on Wednesday, hitting $14.53. 52,100 shares of the company traded hands, compared to its average volume of 114,514. Airgain has a one year low of $8.34 and a one year high of $17.25. The business has a 50-day simple moving average of $13.93. The stock has a market capitalization of $146.00 million, a PE ratio of -53.81 and a beta of 1.94.
Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Airgain had a negative net margin of 1.83% and a negative return on equity of 2.57%. The company had revenue of $15.10 million for the quarter, compared to the consensus estimate of $15.04 million. During the same period last year, the company earned ($0.07) earnings per share. Airgain’s revenue for the quarter was up 13.5% compared to the same quarter last year.
In related news, President Jacob Suen sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the transaction, the president now directly owns 45,630 shares in the company, valued at $684,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. O Shaughnessy Asset Management LLC acquired a new stake in Airgain in the fourth quarter worth $75,000. BerganKDV Wealth Management LLC acquired a new stake in Airgain in the first quarter worth $128,000. Trellus Management Company LLC raised its holdings in Airgain by 22.8% in the first quarter. Trellus Management Company LLC now owns 23,796 shares of the technology company’s stock worth $305,000 after purchasing an additional 4,418 shares during the period. Acadian Asset Management LLC acquired a new stake in Airgain in the first quarter worth $345,000. Finally, Punch & Associates Investment Management Inc. acquired a new stake in Airgain in the first quarter worth $413,000. Institutional investors own 34.89% of the company’s stock.
Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.
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