What is Roth Capital’s Forecast for Airgain FY2024 Earnings?

Airgain, Inc. (NASDAQ:AIRG) – Stock analysts at Roth Capital cut their FY2024 earnings per share (EPS) estimates for Airgain in a report released on Sunday, February 2nd. Roth Capital analyst S. Searle now expects that the technology company will post earnings of ($0.55) per share for the year, down from their prior forecast of ($0.51). The consensus estimate for Airgain’s current full-year earnings is ($0.50) per share. Roth Capital also issued estimates for Airgain’s Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.40) EPS.

Other research analysts also recently issued reports about the company. Craig Hallum boosted their price target on Airgain from $8.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Securities reiterated an “outperform” rating and issued a $11.50 target price (up from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

Airgain Stock Performance

Shares of AIRG opened at $7.35 on Wednesday. Airgain has a 1 year low of $3.71 and a 1 year high of $10.34. The company’s 50 day simple moving average is $7.50 and its 200 day simple moving average is $7.92. The company has a market capitalization of $83.39 million, a price-to-earnings ratio of -6.45 and a beta of 0.71.

Airgain (NASDAQ:AIRG) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. The firm had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $16.00 million. During the same quarter last year, the company posted ($0.11) earnings per share.

Insider Activity at Airgain

In other Airgain news, CFO Michael Elbaz sold 6,777 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $9.09, for a total transaction of $61,602.93. Following the completion of the sale, the chief financial officer now owns 102,794 shares of the company’s stock, valued at approximately $934,397.46. The trade was a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Airgain

Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its position in Airgain by 3.7% during the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after purchasing an additional 2,400 shares in the last quarter. Geode Capital Management LLC grew its stake in Airgain by 23.2% during the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after buying an additional 20,970 shares during the period. Farther Finance Advisors LLC grew its stake in Airgain by 195.5% during the third quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock worth $274,000 after buying an additional 24,000 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of Airgain in the fourth quarter worth $235,000. 52.76% of the stock is owned by institutional investors and hedge funds.

About Airgain

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.