Airgain (NASDAQ:AIRG) Rating Lowered to Market Perform at Cowen

Airgain (NASDAQ:AIRG) was downgraded by equities research analysts at Cowen from an “outperform” rating to a “market perform” rating in a report issued on Thursday, The Fly reports.

A number of other equities analysts also recently commented on the stock. TheStreet downgraded shares of Airgain from a “c-” rating to a “d+” rating in a research note on Tuesday, October 5th. Roth Capital reduced their target price on shares of Airgain from $30.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 11th. Finally, Zacks Investment Research upgraded shares of Airgain from a “sell” rating to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Airgain has a consensus rating of “Hold” and an average target price of $28.00.

AIRG stock opened at $11.94 on Thursday. The firm has a market cap of $120.33 million, a PE ratio of -31.42 and a beta of 1.18. The firm’s 50 day moving average price is $13.64 and its 200-day moving average price is $17.79. Airgain has a one year low of $11.70 and a one year high of $29.50.

Airgain (NASDAQ:AIRG) last posted its earnings results on Monday, August 9th. The technology company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.02. The firm had revenue of $17.30 million during the quarter, compared to the consensus estimate of $18.36 million. Airgain had a negative net margin of 6.14% and a negative return on equity of 4.49%. On average, sell-side analysts forecast that Airgain will post -0.33 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC grew its holdings in Airgain by 2.7% during the 2nd quarter. Renaissance Technologies LLC now owns 489,487 shares of the technology company’s stock valued at $10,093,000 after purchasing an additional 12,751 shares in the last quarter. North Run Capital LP grew its holdings in Airgain by 73.3% during the 2nd quarter. North Run Capital LP now owns 468,000 shares of the technology company’s stock worth $9,650,000 after acquiring an additional 198,000 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Airgain by 4.9% during the 1st quarter. Ameriprise Financial Inc. now owns 360,636 shares of the technology company’s stock worth $7,641,000 after acquiring an additional 16,706 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Airgain in the 2nd quarter worth about $6,590,000. Finally, BlackRock Inc. lifted its position in shares of Airgain by 56.6% in the 1st quarter. BlackRock Inc. now owns 244,969 shares of the technology company’s stock worth $5,191,000 after buying an additional 88,527 shares during the last quarter. 56.42% of the stock is currently owned by institutional investors and hedge funds.

About Airgain

Airgain, Inc provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The company offers custom antenna design and performance validation services.

Further Reading: Institutional Investors

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