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

Airgain, Inc. (NASDAQ:AIRG) saw a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 136,000 shares, a drop of 15.9% from the November 15th total of 161,800 shares. Based on an average daily trading volume, of 40,800 shares, the short-interest ratio is currently 3.3 days. Approximately 1.4% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Northland Securities restated an “outperform” rating and set a $11.50 target price (up previously from $8.00) on shares of Airgain in a report on Wednesday, November 13th. Craig Hallum increased their price target on shares of Airgain from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Airgain Price Performance

AIRG opened at $8.14 on Monday. The firm has a market cap of $92.39 million, a PE ratio of -7.14 and a beta of 0.69. The stock has a 50-day moving average price of $9.10 and a 200-day moving average price of $7.63. Airgain has a 1 year low of $3.06 and a 1 year high of $10.34.

Insider Activity at Airgain

In related news, CFO Michael Elbaz sold 6,777 shares of the company’s stock in a transaction on Monday, November 18th. The shares were 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 directly owns 102,794 shares in the company, valued at $934,397.46. This represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 16.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Airgain by 23.2% during the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after acquiring an additional 20,970 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Airgain by 195.5% in 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 last quarter. US Bancorp DE grew its position in Airgain by 3.7% during the third quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock valued at $502,000 after buying an additional 2,400 shares during the period. First Eagle Investment Management LLC increased its holdings in Airgain by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 558,309 shares of the technology company’s stock valued at $3,372,000 after buying an additional 131,675 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Airgain by 0.8% during the 2nd quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock worth $2,128,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors own 52.76% of the company’s stock.

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.