Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Update

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 237,064 shares, a drop of 19.1% from the December 15th total of 292,952 shares. Approximately 3.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 154,692 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 154,692 shares, the short-interest ratio is currently 1.5 days. Approximately 3.6% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of research firms have commented on XAIR. D. Boral Capital reissued a “buy” rating and issued a $11.00 price target on shares of Beyond Air in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alpine Global Management LLC purchased a new stake in Beyond Air during the third quarter valued at approximately $25,000. Geode Capital Management LLC raised its holdings in Beyond Air by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after buying an additional 12,598 shares during the period. Virtu Financial LLC bought a new stake in Beyond Air in the third quarter worth $48,000. Osaic Holdings Inc. boosted its stake in Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after buying an additional 34,000 shares during the period. Finally, Wealth Effects LLC increased its position in Beyond Air by 42.5% during the second quarter. Wealth Effects LLC now owns 278,100 shares of the company’s stock valued at $48,000 after acquiring an additional 83,000 shares during the last quarter. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Beyond Air Price Performance

NASDAQ:XAIR opened at $1.70 on Tuesday. The business’s 50-day moving average is $1.14 and its 200 day moving average is $2.08. Beyond Air has a 12 month low of $0.67 and a 12 month high of $10.40. The company has a market capitalization of $13.62 million, a P/E ratio of -0.22 and a beta of 0.34. The company has a current ratio of 4.24, a quick ratio of 3.73 and a debt-to-equity ratio of 0.77.

Beyond Air (NASDAQ:XAIR) last posted its earnings results on Monday, November 10th. The company reported ($1.25) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.15). Beyond Air had a negative net margin of 632.51% and a negative return on equity of 261.08%. The firm had revenue of $1.82 million for the quarter, compared to the consensus estimate of $2.54 million. On average, equities research analysts forecast that Beyond Air will post -0.79 earnings per share for the current fiscal year.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.