Airgain, Inc. (NASDAQ:AIRG) Sees Significant Increase in Short Interest

Airgain, Inc. (NASDAQ:AIRG) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 129,100 shares, an increase of 29.2% from the September 30th total of 99,900 shares. Based on an average daily volume of 40,400 shares, the short-interest ratio is presently 3.2 days. Currently, 1.3% of the company’s stock are short sold.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AIRG. Craig Hallum boosted their price target on Airgain from $5.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Northland Securities boosted their target price on Airgain from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On Airgain

An institutional investor recently raised its position in Airgain stock. Renaissance Technologies LLC raised its position in Airgain, Inc. (NASDAQ:AIRG) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 352,336 shares of the technology company’s stock after acquiring an additional 2,800 shares during the quarter. Renaissance Technologies LLC owned approximately 3.27% of Airgain worth $2,128,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 52.76% of the company’s stock.

Airgain Price Performance

Shares of NASDAQ:AIRG opened at $9.23 on Monday. The company’s 50-day moving average price is $8.05 and its two-hundred day moving average price is $6.70. Airgain has a one year low of $1.63 and a one year high of $9.68. The stock has a market capitalization of $99.47 million, a PE ratio of -8.10 and a beta of 0.72.

Airgain (NASDAQ:AIRG) last released its earnings results on Tuesday, August 6th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.16). The business had revenue of $15.18 million for the quarter, compared to analyst estimates of $15.00 million. Airgain had a negative return on equity of 29.18% and a negative net margin of 23.19%. On average, analysts anticipate that Airgain will post -0.52 earnings per share 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.