Airgain Inc (NASDAQ:AIRG) Given Consensus Rating of “Hold” by Analysts

Airgain Inc (NASDAQ:AIRG) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $13.50.

Several research firms recently issued reports on AIRG. B. Riley cut Airgain from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.00 to $11.50 in a report on Tuesday, November 26th. ValuEngine cut Airgain from a “buy” rating to a “hold” rating in a report on Wednesday, November 27th. William Blair cut Airgain from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 26th. Finally, Cowen cut their target price on shares of Airgain from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th.

A number of hedge funds have recently made changes to their positions in AIRG. BlackRock Inc. grew its holdings in Airgain by 705.0% during the 2nd quarter. BlackRock Inc. now owns 565,949 shares of the technology company’s stock worth $8,007,000 after acquiring an additional 495,649 shares during the period. Vanguard Group Inc. grew its stake in shares of Airgain by 17.0% during the second quarter. Vanguard Group Inc. now owns 406,876 shares of the technology company’s stock worth $5,757,000 after purchasing an additional 59,210 shares during the period. Renaissance Technologies LLC grew its stake in shares of Airgain by 987.2% during the second quarter. Renaissance Technologies LLC now owns 209,824 shares of the technology company’s stock worth $2,969,000 after purchasing an additional 190,524 shares during the period. Cadence Capital Management LLC grew its stake in shares of Airgain by 80.9% during the second quarter. Cadence Capital Management LLC now owns 183,182 shares of the technology company’s stock worth $2,592,000 after purchasing an additional 81,906 shares during the period. Finally, Rice Hall James & Associates LLC increased its holdings in Airgain by 2.0% in the third quarter. Rice Hall James & Associates LLC now owns 133,089 shares of the technology company’s stock valued at $1,564,000 after purchasing an additional 2,561 shares during the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:AIRG traded up $0.05 during trading hours on Tuesday, hitting $9.89. 60,900 shares of the stock were exchanged, compared to its average volume of 93,102. The company’s 50 day moving average is $10.50 and its two-hundred day moving average is $12.18. Airgain has a twelve month low of $8.28 and a twelve month high of $17.25. The company has a market capitalization of $95.90 million, a P/E ratio of -36.63 and a beta of 1.86.

Airgain (NASDAQ:AIRG) last released its earnings results on Thursday, November 7th. The technology company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.11. The company had revenue of $13.10 million during the quarter, compared to analysts’ expectations of $12.83 million. Airgain had a return on equity of 4.59% and a net margin of 3.61%. The business’s revenue for the quarter was down 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. On average, research analysts anticipate that Airgain will post 0.06 earnings per share for the current fiscal year.

Airgain Company Profile

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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