Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Increases By 25.0%

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 1,350,000 shares, a growth of 25.0% from the September 30th total of 1,080,000 shares. Based on an average daily volume of 545,300 shares, the short-interest ratio is currently 2.5 days.

Analyst Ratings Changes

A number of research firms have recently issued reports on XAIR. Piper Sandler cut their price objective on Beyond Air from $3.50 to $1.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Roth Capital upgraded shares of Beyond Air to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Roth Mkm restated a “buy” rating and issued a $2.00 price objective on shares of Beyond Air in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Beyond Air has a consensus rating of “Buy” and an average price target of $3.67.

Beyond Air Price Performance

Shares of Beyond Air stock opened at $0.43 on Tuesday. The company has a quick ratio of 2.42, a current ratio of 2.63 and a debt-to-equity ratio of 0.84. The company’s fifty day simple moving average is $0.39 and its two-hundred day simple moving average is $0.74. The firm has a market cap of $19.62 million, a PE ratio of -0.23 and a beta of -0.12. Beyond Air has a 12-month low of $0.30 and a 12-month high of $2.61.

Beyond Air (NASDAQ:XAIR) last released 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 business had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.72 million. Beyond Air had a negative return on equity of 240.15% and a negative net margin of 3,272.46%. During the same quarter last year, the business posted ($0.45) EPS. As a group, equities analysts expect that Beyond Air will post -1.03 EPS for the current year.

Insider Activity

In other news, CEO Steven A. Lisi purchased 1,476,626 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $0.50 per share, with a total value of $738,313.00. Following the completion of the acquisition, the chief executive officer now owns 3,249,411 shares in the company, valued at $1,624,705.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Beyond Air news, CEO Steven A. Lisi acquired 1,476,626 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was bought at an average price of $0.50 per share, with a total value of $738,313.00. Following the completion of the acquisition, the chief executive officer now owns 3,249,411 shares of the company’s stock, valued at $1,624,705.50. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Steven A. Lisi bought 100,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $0.39 per share, for a total transaction of $39,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,722,785 shares of the company’s stock, valued at $671,886.15. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 1,615,892 shares of company stock worth $793,019 in the last three months. Corporate insiders own 19.00% of the company’s stock.

Institutional Investors Weigh In On Beyond Air

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Beyond Air during the 2nd quarter worth approximately $47,000. Vanguard Group Inc. boosted its holdings in shares of Beyond Air by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock valued at $2,435,000 after buying an additional 66,224 shares in the last quarter. Finally, Gendell Jeffrey L lifted its position in Beyond Air by 30.4% during the 1st quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock valued at $2,542,000 after acquiring an additional 340,774 shares during the period. 31.50% of the stock is owned by hedge funds and other institutional investors.

Beyond Air Company Profile

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.