Airgain (NASDAQ:AIRG) Cut to Market Perform at Northland Securities

Northland Securities cut shares of Airgain (NASDAQ:AIRG) from an outperform rating to a market perform rating in a research note released on Thursday, MarketBeat reports. They currently have $4.50 target price on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Airgain in a research note on Wednesday, October 21st. Wall Street Zen lowered Airgain from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $6.90.

Airgain Stock Up 7.0%

Shares of Airgain stock opened at $3.97 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.10 and a quick ratio of 1.71. The firm’s 50-day moving average is $4.52 and its two-hundred day moving average is $5.45. Airgain has a 1 year low of $3.00 and a 1 year high of $7.66. The stock has a market cap of $52.46 million, a price-to-earnings ratio of -7.63 and a beta of 1.01.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings data on Tuesday, November 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $15.32 million for the quarter, compared to analyst estimates of $15.24 million. Airgain had a negative net margin of 12.59% and a negative return on equity of 13.65%. As a group, research analysts expect that Airgain will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at Airgain

In related news, Director James K. Sims acquired 8,269 shares of the stock in a transaction on Tuesday, September 1st. The shares were acquired at an average price of $5.11 per share, for a total transaction of $42,254.59. Following the transaction, the director owned 457,733 shares in the company, valued at approximately $2,339,015.63. This trade represents a 1.84% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 16,500 shares of company stock valued at $84,821 over the last three months. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Airgain

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Airgain during the second quarter worth $1,355,000. Renaissance Technologies LLC grew its position in Airgain by 4.6% during the first quarter. Renaissance Technologies LLC now owns 336,336 shares of the technology company’s stock valued at $1,850,000 after buying an additional 14,700 shares during the period. Whitcomb & Hess Inc. grew its position in Airgain by 36.0% during the second quarter. Whitcomb & Hess Inc. now owns 56,706 shares of the technology company’s stock valued at $357,000 after buying an additional 15,022 shares during the period. AXQ Capital LP purchased a new position in Airgain in the second quarter valued at $79,000. Finally, Bank of America Corp DE purchased a new position in Airgain in the second quarter valued at $77,000. 52.76% of the stock is owned by hedge funds and other institutional investors.

About Airgain

Airgain, Inc. develops wireless connectivity solutions for devices and networks. Its offerings include embedded antenna systems, external antennas and integrated connectivity products designed to support technologies such as cellular, Wi-Fi and the Internet of Things. The company serves customers in markets including automotive, enterprise and consumer electronics. Its products are used in applications ranging from connected vehicles and networking equipment to smart devices, and Airgain also provides engineering and design services to help customers integrate wireless connectivity into their products.