Airgain, Inc. (NASDAQ:AIRG) Expected to Announce Earnings of $0.03 Per Share

Wall Street analysts predict that Airgain, Inc. (NASDAQ:AIRG) will post earnings of $0.03 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Airgain’s earnings. The highest EPS estimate is $0.03 and the lowest is $0.02. Airgain reported earnings of ($0.05) per share in the same quarter last year, which would indicate a positive year over year growth rate of 160%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, May 6th.

On average, analysts expect that Airgain will report full-year earnings of $0.31 per share for the current fiscal year, with EPS estimates ranging from $0.23 to $0.37. For the next financial year, analysts forecast that the company will post earnings of $0.63 per share, with EPS estimates ranging from $0.51 to $0.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Airgain.

Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Wednesday, February 17th. The technology company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.01). The firm had revenue of $12.83 million during the quarter, compared to analyst estimates of $12.81 million. Airgain had a negative net margin of 4.39% and a negative return on equity of 4.50%.

Several brokerages have recently weighed in on AIRG. Cowen raised their price target on shares of Airgain from $21.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, February 19th. B. Riley raised their target price on shares of Airgain from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, February 19th. Zacks Investment Research cut Airgain from a “buy” rating to a “hold” rating in a research report on Thursday, February 25th. Northland Securities lowered Airgain from an “outperform” rating to a “market perform” rating and set a $23.00 target price on the stock. in a report on Friday, January 29th. Finally, Roth Capital lifted their price target on Airgain from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $27.40.

In other news, VP Kevin Thill sold 64,436 shares of the business’s stock in a transaction dated Tuesday, February 23rd. The stock was sold at an average price of $23.35, for a total transaction of $1,504,580.60. Following the sale, the vice president now directly owns 69,499 shares in the company, valued at $1,622,801.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jacob Suen acquired 2,000 shares of the stock in a transaction dated Wednesday, March 17th. The stock was purchased at an average cost of $23.14 per share, with a total value of $46,280.00. The disclosure for this purchase can be found here. 10.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of Airgain by 65.7% during the third quarter. Morgan Stanley now owns 51,749 shares of the technology company’s stock worth $690,000 after purchasing an additional 20,512 shares during the period. Schonfeld Strategic Advisors LLC bought a new stake in shares of Airgain in the 3rd quarter valued at about $287,000. FNY Investment Advisers LLC acquired a new stake in shares of Airgain in the fourth quarter valued at about $783,000. Taylor Frigon Capital Management LLC lifted its stake in shares of Airgain by 2.4% in the fourth quarter. Taylor Frigon Capital Management LLC now owns 301,863 shares of the technology company’s stock worth $5,367,000 after acquiring an additional 7,161 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Airgain by 45.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 52,536 shares of the technology company’s stock valued at $934,000 after acquiring an additional 16,305 shares during the last quarter. Hedge funds and other institutional investors own 47.60% of the company’s stock.

NASDAQ:AIRG opened at $20.38 on Wednesday. The stock has a 50-day simple moving average of $21.74 and a 200 day simple moving average of $18.47. Airgain has a 52-week low of $7.16 and a 52-week high of $29.50. The company has a market cap of $210.97 million, a PE ratio of -92.64 and a beta of 1.31.

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. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; SmartMax embedded antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and machine-to-machine antennas under the Antenna Plus brand.

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Earnings History and Estimates for Airgain (NASDAQ:AIRG)

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