Airgain (NASDAQ:AIRG) Stock Rating Upgraded by StockNews.com

Airgain (NASDAQ:AIRG) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Saturday.

Separately, Craig Hallum lowered their price objective on Airgain from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, February 28th.

Airgain Stock Down 2.8 %

Shares of AIRG stock opened at $3.85 on Friday. The stock has a fifty day moving average of $6.04 and a 200 day moving average of $7.47. Airgain has a 52 week low of $3.85 and a 52 week high of $10.34. The firm has a market capitalization of $44.50 million, a price-to-earnings ratio of -3.38 and a beta of 0.67.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The firm had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.35 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. Equities research analysts anticipate that Airgain will post -0.53 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jacob Suen sold 6,982 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $4.16, for a total value of $29,045.12. Following the sale, the chief executive officer now owns 305,546 shares in the company, valued at approximately $1,271,071.36. This trade represents a 2.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 19,195 shares of company stock worth $88,255 in the last three months. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Airgain

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Airgain in the fourth quarter valued at about $73,000. Marshall Wace LLP purchased a new stake in shares of Airgain in the 4th quarter worth $75,000. Arrowstreet Capital Limited Partnership bought a new position in Airgain in the 4th quarter worth $107,000. Essex Investment Management Co. LLC purchased a new position in Airgain during the fourth quarter valued at $145,000. Finally, Jane Street Group LLC purchased a new position in shares of Airgain during the 4th quarter valued at about $192,000. 52.76% of the stock is currently owned by hedge funds and other institutional investors.

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.