Airgain (NASDAQ:AIRG) Rating Lowered to Hold at StockNews.com

Airgain (NASDAQ:AIRG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Separately, Craig Hallum cut their price objective on shares of Airgain from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Airgain Stock Performance

AIRG stock opened at $3.77 on Wednesday. The firm has a market capitalization of $43.58 million, a price-to-earnings ratio of -3.31 and a beta of 0.89. The firm has a 50 day moving average price of $5.17 and a 200-day moving average price of $7.19. Airgain has a 52-week low of $3.17 and a 52-week high of $10.34.

Airgain (NASDAQ:AIRG) last released its earnings results on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.14). Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. The company had revenue of $15.08 million during the quarter, compared to the consensus estimate of $16.35 million. As a group, sell-side analysts forecast that Airgain will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Airgain

In other Airgain news, CEO Jacob Suen sold 12,093 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $4.85, for a total value of $58,651.05. Following the completion of the transaction, the chief executive officer now owns 229,999 shares of the company’s stock, valued at approximately $1,115,495.15. The trade was a 5.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 19,195 shares of company stock worth $88,255. Insiders own 16.10% of the company’s stock.

Institutional Trading of Airgain

Large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its holdings in Airgain by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 677,584 shares of the technology company’s stock worth $4,784,000 after purchasing an additional 3,283 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Airgain by 10.8% in the 4th quarter. Renaissance Technologies LLC now owns 404,036 shares of the technology company’s stock worth $2,852,000 after buying an additional 39,436 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Airgain by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after buying an additional 20,970 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Airgain by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 105,954 shares of the technology company’s stock worth $748,000 after acquiring an additional 12,000 shares during the period. Finally, Northern Trust Corp increased its position in Airgain by 69.4% during the fourth quarter. Northern Trust Corp now owns 64,861 shares of the technology company’s stock valued at $458,000 after acquiring an additional 26,573 shares during the last quarter. 52.76% of the stock is currently owned by institutional investors.

Airgain Company Profile

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.