Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Up 88.6% in April

Beyond Air, Inc. (NASDAQ:XAIR) saw a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 124,457 shares, an increase of 88.6% from the April 15th total of 65,992 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 418,301 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Beyond Air

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Beyond Air by 1.5% during the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after purchasing an additional 12,598 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Beyond Air during the third quarter worth approximately $1,753,000. Osaic Holdings Inc. boosted its holdings in shares of 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 acquiring an additional 34,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Beyond Air during the third quarter worth approximately $48,000. Finally, Alpine Global Management LLC bought a new stake in shares of Beyond Air in the third quarter valued at about $25,000. 31.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. D. Boral Capital reiterated a “buy” rating and issued a $10.00 price target on shares of Beyond Air in a research report on Friday, March 27th. Wall Street Zen raised Beyond Air to a “sell” rating in a research note on Saturday, March 7th. Rodman & Renshaw assumed coverage on Beyond Air in a research note on Tuesday, January 20th. They set a “buy” rating on the stock. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Air in a report on Friday, April 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Beyond Air currently has an average rating of “Hold” and an average price target of $10.00.

Beyond Air Stock Performance

Beyond Air stock traded up $0.01 during midday trading on Monday, reaching $0.51. 139,435 shares of the company’s stock were exchanged, compared to its average volume of 5,028,942. Beyond Air has a 52 week low of $0.42 and a 52 week high of $5.84. The company has a debt-to-equity ratio of 2.65, a quick ratio of 4.77 and a current ratio of 5.12. The firm has a market cap of $6.73 million, a price-to-earnings ratio of -0.09 and a beta of 0.30. The stock’s 50-day simple moving average is $0.66 and its 200 day simple moving average is $1.03.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings results on Friday, February 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative return on equity of 268.82% and a negative net margin of 447.75%.The business had revenue of $2.19 million for the quarter, compared to the consensus estimate of $2.15 million.

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.