Airgain, Inc. (NASDAQ:AIRG) Short Interest Down 14.5% in March

Airgain, Inc. (NASDAQ:AIRG) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 112,700 shares, a drop of 14.5% from the March 15th total of 131,800 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 23,100 shares, the days-to-cover ratio is presently 4.9 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Airgain in a report on Sunday. They set a “hold” rating for the company.

Insider Activity

In other news, CEO Jacob Suen sold 10,639 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $5.10, for a total transaction of $54,258.90. Following the transaction, the chief executive officer now directly owns 236,275 shares of the company’s stock, valued at $1,205,002.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jacob Suen sold 10,639 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $5.10, for a total transaction of $54,258.90. Following the completion of the sale, the chief executive officer now directly owns 236,275 shares in the company, valued at $1,205,002.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Ali Sadri sold 5,379 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $5.10, for a total transaction of $27,432.90. Following the sale, the chief technology officer now owns 96,958 shares of the company’s stock, valued at $494,485.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,814 shares of company stock valued at $122,510. 15.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Airgain

Large investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. lifted its holdings in shares of Airgain by 30.7% during the first quarter. Advisor Group Holdings Inc. now owns 4,916 shares of the technology company’s stock valued at $38,000 after purchasing an additional 1,154 shares during the last quarter. UBS Group AG lifted its holdings in shares of Airgain by 256.8% during the second quarter. UBS Group AG now owns 6,066 shares of the technology company’s stock valued at $49,000 after purchasing an additional 4,366 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Airgain by 28,550.0% during the first quarter. Bank of America Corp DE now owns 6,303 shares of the technology company’s stock valued at $34,000 after purchasing an additional 6,281 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Airgain during the second quarter valued at approximately $85,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Airgain during the fourth quarter valued at approximately $73,000. 52.76% of the stock is currently owned by hedge funds and other institutional investors.

Airgain Price Performance

Shares of AIRG opened at $5.31 on Friday. Airgain has a one year low of $1.63 and a one year high of $6.37. The company has a 50-day simple moving average of $4.77 and a two-hundred day simple moving average of $3.81. The firm has a market capitalization of $55.81 million, a PE ratio of -4.46 and a beta of 0.85.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings data on Wednesday, March 6th. The technology company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.15). Airgain had a negative return on equity of 24.77% and a negative net margin of 22.18%. The company had revenue of $10.07 million during the quarter, compared to analysts’ expectations of $10.00 million. Analysts expect that Airgain will post -0.44 EPS for the current fiscal year.

Airgain Company Profile

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.