Zacks Investment Research upgraded shares of Airgain (NASDAQ:AIRG) from a hold rating to a buy rating in a research report released on Wednesday, Zacks.com reports. The firm currently has $16.00 target price on the technology company’s stock.
According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “
AIRG has been the subject of a number of other reports. B. Riley upped their price target on shares of Airgain from $19.00 to $22.00 and gave the company a buy rating in a report on Monday, May 6th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Northland Securities set a $50.00 price target on shares of Polarityte and gave the company a buy rating in a report on Friday, May 10th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $17.75.
Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Airgain had a negative net margin of 1.83% and a negative return on equity of 2.57%. The firm had revenue of $15.10 million for the quarter, compared to the consensus estimate of $15.04 million. During the same quarter last year, the company earned ($0.07) earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis.
In other news, President Jacob Suen sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the president now owns 45,630 shares of the company’s stock, valued at $684,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.40% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in AIRG. O Shaughnessy Asset Management LLC acquired a new position in shares of Airgain during the fourth quarter valued at about $75,000. BerganKDV Wealth Management LLC acquired a new position in shares of Airgain during the first quarter valued at about $128,000. Trellus Management Company LLC raised its position in shares of Airgain by 22.8% during the first quarter. Trellus Management Company LLC now owns 23,796 shares of the technology company’s stock valued at $305,000 after buying an additional 4,418 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Airgain during the first quarter valued at about $345,000. Finally, Punch & Associates Investment Management Inc. acquired a new position in shares of Airgain during the first quarter valued at about $413,000. 34.89% of the stock is owned by institutional investors and hedge funds.
Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.
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