Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Drops By 20.0%

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 597,300 shares, a drop of 20.0% from the August 15th total of 747,000 shares. Based on an average trading volume of 815,700 shares, the short-interest ratio is currently 0.7 days.

Insider Buying and Selling

In other news, CEO Steven A. Lisi acquired 100,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $0.39 per share, for a total transaction of $39,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,722,785 shares in the company, valued at $671,886.15. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 19.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beyond Air

A number of hedge funds have recently made changes to their positions in XAIR. Rosalind Advisors Inc. acquired a new stake in Beyond Air during the 1st quarter valued at approximately $1,572,000. Gendell Jeffrey L increased its position in shares of Beyond Air by 30.4% during the first quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock worth $2,542,000 after buying an additional 340,774 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Beyond Air during the second quarter worth $47,000. Finally, Vanguard Group Inc. raised its stake in Beyond Air by 5.0% during the first quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock worth $2,435,000 after buying an additional 66,224 shares during the last quarter. 31.50% of the stock is currently owned by institutional investors.

Beyond Air Stock Up 6.6 %

NASDAQ:XAIR opened at $0.42 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.63 and a quick ratio of 2.42. Beyond Air has a one year low of $0.36 and a one year high of $3.22. The firm’s 50 day simple moving average is $0.49 and its 200 day simple moving average is $1.03. The company has a market cap of $19.21 million, a PE ratio of -0.23 and a beta of -0.11.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.12. The company had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.72 million. Beyond Air had a negative net margin of 3,272.46% and a negative return on equity of 240.15%. During the same quarter in the previous year, the firm posted ($0.45) earnings per share. On average, research analysts anticipate that Beyond Air will post -1.03 earnings per share for the current year.

Analysts Set New Price Targets

XAIR has been the subject of a number of research reports. Roth Mkm reissued a “buy” rating and issued a $2.00 target price on shares of Beyond Air in a report on Friday, August 16th. BTIG Research downgraded shares of Beyond Air from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 25th. Piper Sandler decreased their target price on shares of Beyond Air from $3.50 to $1.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Roth Capital upgraded Beyond Air to a “strong-buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $3.67.

About Beyond Air

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.