Zacks Investment Research Upgrades Airgain (NASDAQ:AIRG) to “Hold”

Zacks Investment Research upgraded shares of Airgain (NASDAQ:AIRG) from a sell rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

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. “

A number of other equities analysts have also recently commented on the company. TheStreet cut Airgain from a c- rating to a d+ rating in a report on Tuesday, October 5th. Craig Hallum assumed coverage on Airgain in a research note on Thursday, December 16th. They issued a buy rating and a $16.00 price target for the company. William Blair reiterated a market perform rating on shares of Airgain in a research note on Wednesday, November 10th. Cowen lowered Airgain from an outperform rating to a market perform rating and cut their price target for the stock from $18.00 to $14.00 in a research note on Thursday, October 14th. Finally, B. Riley cut their price target on Airgain from $27.00 to $20.00 and set a buy rating for the company in a research note on Monday, November 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $20.67.

Shares of Airgain stock opened at $10.79 on Tuesday. Airgain has a one year low of $9.05 and a one year high of $29.50. The stock’s fifty day moving average is $10.36 and its 200 day moving average is $13.56. The stock has a market cap of $108.93 million, a P/E ratio of -16.60 and a beta of 1.07.

Airgain (NASDAQ:AIRG) last announced its earnings results on Tuesday, November 9th. The technology company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). Airgain had a negative return on equity of 8.41% and a negative net margin of 10.36%. The company had revenue of $15.46 million during the quarter, compared to the consensus estimate of $15.85 million. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, equities research analysts anticipate that Airgain will post -0.63 EPS for the current fiscal year.

In other news, Director James K. Sims acquired 9,701 shares of the business’s stock in a transaction dated Friday, November 12th. The stock was purchased at an average price of $10.50 per share, for a total transaction of $101,860.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James K. Sims purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The stock was bought at an average price of $9.54 per share, with a total value of $57,240.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 16,000 shares of company stock valued at $162,231. Company insiders own 11.70% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIRG. Penserra Capital Management LLC purchased a new position in Airgain in the second quarter worth about $6,590,000. North Run Capital LP grew its position in Airgain by 73.3% in the second quarter. North Run Capital LP now owns 468,000 shares of the technology company’s stock worth $9,650,000 after acquiring an additional 198,000 shares in the last quarter. M&G Investment Management Ltd. bought a new stake in Airgain in the second quarter worth about $3,614,000. JPMorgan Chase & Co. lifted its stake in Airgain by 146.0% in the second quarter. JPMorgan Chase & Co. now owns 94,161 shares of the technology company’s stock worth $1,941,000 after purchasing an additional 55,877 shares during the last quarter. Finally, State Street Corp bought a new stake in Airgain in the second quarter worth about $984,000. Institutional investors own 56.20% of the company’s stock.

Airgain Company Profile

Airgain, Inc provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The company offers custom antenna design and performance validation services.

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