Beyond Air (NASDAQ:XAIR) Lowered to Sell Rating by Wall Street Zen

Beyond Air (NASDAQ:XAIR) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Other analysts have also recently issued research reports about the company. D Boral Capital upgraded Beyond Air to a “strong-buy” rating in a research report on Thursday, July 17th. D. Boral Capital reissued a “buy” rating and issued a $11.00 price target on shares of Beyond Air in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $25.50.

Beyond Air Stock Performance

Beyond Air stock opened at $2.32 on Friday. The stock has a market cap of $12.13 million, a PE ratio of -0.19 and a beta of 0.25. The stock has a 50-day moving average price of $3.42 and a 200 day moving average price of $4.59. Beyond Air has a 52 week low of $2.22 and a 52 week high of $13.52. The company has a current ratio of 3.24, a quick ratio of 2.72 and a debt-to-equity ratio of 0.92.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.03). The company had revenue of $1.76 million for the quarter, compared to analysts’ expectations of $1.75 million. Beyond Air had a negative return on equity of 232.61% and a negative net margin of 880.72%. Equities research analysts predict that Beyond Air will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Beyond Air

A number of hedge funds have recently added to or reduced their stakes in XAIR. Geode Capital Management LLC boosted its stake in Beyond Air by 81.0% in the 4th quarter. Geode Capital Management LLC now owns 562,713 shares of the company’s stock worth $202,000 after buying an additional 251,823 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Beyond Air in the 4th quarter worth about $2,560,000. Balyasny Asset Management L.P. purchased a new position in shares of Beyond Air in the 4th quarter worth about $1,195,000. Squarepoint Ops LLC purchased a new position in shares of Beyond Air in the 4th quarter worth about $48,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of Beyond Air in the 4th quarter worth about $80,000. 31.50% of the stock is owned by institutional investors and hedge funds.

About Beyond Air

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.