Airgain (NASDAQ:AIRG) Releases Q3 2022 Earnings Guidance

Airgain (NASDAQ:AIRGGet Rating) issued an update on its third quarter 2022 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0-0 for the period, compared to the consensus estimate of $0.04. The company issued revenue guidance of $18.00 million-$19.50 million, compared to the consensus revenue estimate of $20.90 million.

Airgain Price Performance

AIRG stock opened at $7.21 on Friday. The firm has a market capitalization of $73.56 million, a P/E ratio of -6.16 and a beta of 0.98. The business’s 50-day moving average is $8.07 and its two-hundred day moving average is $8.52. Airgain has a 1 year low of $6.75 and a 1 year high of $14.04.

Airgain (NASDAQ:AIRGGet Rating) last released its quarterly earnings results on Thursday, August 11th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. Airgain had a negative return on equity of 17.66% and a negative net margin of 17.85%. The firm had revenue of $19.29 million for the quarter, compared to the consensus estimate of $19.26 million. During the same quarter last year, the business posted ($0.04) EPS. On average, analysts expect that Airgain will post -0.46 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on AIRG. StockNews.com raised Airgain from a sell rating to a hold rating in a report on Monday, May 23rd. TheStreet cut Airgain from a c- rating to a d+ rating in a report on Friday, August 26th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $12.33.

Insider Activity

In other Airgain news, Director James K. Sims acquired 4,000 shares of the stock in a transaction dated Thursday, June 16th. The stock was acquired at an average price of $7.76 per share, with a total value of $31,040.00. Following the completion of the transaction, the director now directly owns 319,419 shares in the company, valued at $2,478,691.44. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.70% of the company’s stock.

Institutional Investors Weigh In On Airgain

A number of institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its position in Airgain by 30.7% during the first quarter. Advisor Group Holdings Inc. now owns 4,916 shares of the technology company’s stock valued at $38,000 after acquiring an additional 1,154 shares during the period. Citadel Advisors LLC lifted its stake in shares of Airgain by 14.9% during the second quarter. Citadel Advisors LLC now owns 14,927 shares of the technology company’s stock worth $121,000 after purchasing an additional 1,934 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Airgain by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 188,429 shares of the technology company’s stock worth $1,428,000 after purchasing an additional 1,972 shares in the last quarter. Engineers Gate Manager LP lifted its stake in shares of Airgain by 18.4% in the first quarter. Engineers Gate Manager LP now owns 14,254 shares of the technology company’s stock worth $108,000 after acquiring an additional 2,214 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Airgain by 7.3% in the first quarter. State Street Corp now owns 40,476 shares of the technology company’s stock worth $307,000 after acquiring an additional 2,756 shares in the last quarter. Hedge funds and other institutional investors own 62.17% of the company’s stock.

Airgain Company Profile

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Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; SmartMax embedded antennas; and MaxBeam carrier class antennas, as well as automotive, fleet, public safety, and machine-to-machine antennas under the Antenna Plus brand.

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