Wedge Capital Management L L P NC lowered its position in shares of Airgain Inc (NASDAQ:AIRG) by 2.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,857 shares of the technology company’s stock after selling 1,624 shares during the quarter. Wedge Capital Management L L P NC owned 0.70% of Airgain worth $1,003,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Perkins Capital Management Inc. raised its position in Airgain by 1.4% during the 1st quarter. Perkins Capital Management Inc. now owns 93,800 shares of the technology company’s stock worth $1,203,000 after buying an additional 1,250 shares during the last quarter. Strs Ohio purchased a new position in Airgain during the 2nd quarter worth $35,000. Trellus Management Company LLC raised its position in Airgain by 22.8% during the 1st quarter. Trellus Management Company LLC now owns 23,796 shares of the technology company’s stock worth $305,000 after buying an additional 4,418 shares during the last quarter. Kennedy Capital Management Inc. raised its position in Airgain by 3.5% during the 1st quarter. Kennedy Capital Management Inc. now owns 191,071 shares of the technology company’s stock worth $2,451,000 after buying an additional 6,537 shares during the last quarter. Finally, BerganKDV Wealth Management LLC purchased a new position in shares of Airgain in the 1st quarter valued at about $128,000. Institutional investors own 35.21% of the company’s stock.
AIRG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Airgain from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Northland Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Airgain in a report on Friday, May 10th. ValuEngine downgraded shares of Airgain from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. B. Riley increased their price target on shares of Airgain from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Cowen reiterated an “outperform” rating and issued a $14.00 price target (down previously from $16.00) on shares of Airgain in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Airgain currently has a consensus rating of “Buy” and an average price target of $17.25.
In related news, CEO James K. Sims sold 4,476 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $14.00, for a total value of $62,664.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 32,428 shares of company stock worth $458,485. 8.40% of the stock is owned by corporate insiders.
Shares of AIRG opened at $11.80 on Friday. The company has a 50-day simple moving average of $13.26 and a 200-day simple moving average of $13.46. The company has a market capitalization of $119.23 million, a PE ratio of -43.70 and a beta of 1.93. Airgain Inc has a 52-week low of $8.81 and a 52-week high of $17.25.
Airgain (NASDAQ:AIRG) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.11. The business had revenue of $14.50 million during the quarter, compared to the consensus estimate of $14.30 million. Airgain had a net margin of 4.38% and a return on equity of 5.94%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. As a group, equities analysts forecast that Airgain Inc will post 0.01 EPS for the current fiscal year.
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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