Airgain, Inc. (NASDAQ:AIRG) Expected to Report Quarterly Sales of $17.31 Million
Wall Street analysts expect Airgain, Inc. (NASDAQ: AIRG – Get a rating) to announce sales of $17.31 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have released earnings estimates for Airgain. The lowest sales estimate is $17.25 million and the highest is $17.40 million. Airgain posted sales of $17.38 million in the same quarter last year, suggesting a negative growth rate of 0.4% year-over-year. The company is due to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect Airgain to post annual sales of $79.86 million for the current fiscal year, with estimates ranging from $76.15 million to $82.70 million. For next year, analysts expect the company to record sales of $96.17 million, with estimates ranging from $90.12 million to $103.10 million. Zacks Investment Research sales calculations are an average based on a survey of research analysts who provide coverage for Airgain.
Air gain (NASDAQ: AIRG – Get a rating) last released its quarterly results on Wednesday, February 23. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing Thomson Reuters consensus estimate of ($0.22) by ($0.01). Airgain had a negative return on equity of 12.80% and a negative net margin of 15.69%. In the same quarter of the previous year, the company had earned earnings per share of ($0.11).
Several equity research analysts have recently released reports on the stock. B. Riley cut Airgain shares from a “buy” rating to a “neutral” rating and lowered his price target for the stock from $20.00 to $10.00 in a research report from the Tuesday, February 22. Craig Hallum assumed coverage of Airgain shares in a research report on Thursday, December 16. They issued a “buy” rating and a price target of $16.00 on the stock. Cowen lowered his price target on Airgain shares from $13.00 to $11.00 in a Friday, February 25 research report. StockNews.com launched a hedge on Airgain shares in a Thursday, March 31 report. They set a “sell” rating for the company. To finish, Zacks Investment Research upgraded Airgain’s shares from a “sell” to a “hold” rating in a report released on Tuesday, January 11. One equity research analyst has assigned the stock a sell rating, four have assigned a hold rating and two have assigned the company’s stock a buy rating. Based on data from MarketBeat.com, Airgain currently has a consensus rating of “Hold” and a consensus target price of $15.50.
NASDAQ AIRG traded at $0.12 during Friday trading hours, hitting $7.05. 510 shares of the company were traded, compared to its average volume of 52,202. The company’s 50-day moving average is $8.37 and its 200-day moving average is $9.95. Airgain has a 52-week low of $6.79 and a 52-week high of $24.48. The company has a market capitalization of $71.82 million, a PE ratio of -7.05 and a beta of 1.13.
In other news, Director James K. Sims bought 4,612 shares in a trade dated Tuesday, March 15. The stock was purchased at an average price of $7.60 per share, for a total transaction of $35,051.20. The purchase was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, director James K. Sims purchased 5,000 shares of the company in a trade dated Tuesday, March 1. The shares were acquired at an average price of $9.08 per share, with a total value of $45,400.00. Disclosure of this purchase can be found here. Company insiders hold 11.70% of the company’s shares.
Several institutional investors and hedge funds have recently changed their holdings in AIRG. Barclays PLC increased its stake in Airgain to 99.9% in the third quarter. Barclays PLC now owns 3,038 shares in the technology company worth $39,000 after buying 1,518 more shares last quarter. Victory Capital Management Inc. increased its position in Airgain by 33.2% during the 4th quarter. Victory Capital Management Inc. now owns 8,154 shares of the technology company worth $87,000 after acquiring 2,034 additional shares during the period. Raymond James & Associates acquired a new position in Airgain during the fourth quarter worth $108,000. Wells Fargo & Company MN increased its position in Airgain shares by 64.5% in the second quarter. Wells Fargo & Company MN now owns 5,865 shares of the technology company valued at $121,000 after purchasing 2,300 additional shares during the period. Finally, CAPROCK Group Inc. increased its stake in Airgain by 19.2% in the fourth quarter. CAPROCK Group Inc. now owns 31,000 shares of the technology company valued at $330,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors hold 55.10% of the company’s shares.
Airgain Company Profile (Get a rating)
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 of the whole world. The Company’s products include MaxBeam integrated antennas; streamlined integrated antennas; integrated profile contour antennas; ultra-embedded antennas; Integrated SmartMax antennas; and MaxBeam carrier-grade antennas, as well as automotive, fleet, public safety and machine-to-machine antennas under the Antenna Plus brand.
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