Airgain (NASDAQ:AIRG) Releases Q4 2021 Earnings Guidance

Airgain (NASDAQ:AIRG) updated its fourth quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $-0.220-$-0.220 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.020. The company issued revenue guidance of $13.50 million-$14.50 million, compared to the consensus revenue estimate of $17.47 million.

Shares of NASDAQ AIRG traded up $0.32 during midday trading on Thursday, hitting $9.57. 58,057 shares of the stock traded hands, compared to its average volume of 112,427. Airgain has a one year low of $9.05 and a one year high of $29.50. The company’s 50 day moving average is $11.87. The company has a market capitalization of $96.61 million, a P/E ratio of -14.72 and a beta of 1.11.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings results on Tuesday, November 9th. The technology company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.06). Airgain had a negative net margin of 10.36% and a negative return on equity of 8.41%. During the same quarter in the prior year, the business posted ($0.03) EPS. As a group, sell-side analysts predict that Airgain will post -0.63 EPS for the current year.

Several equities analysts recently weighed in on AIRG shares. William Blair reaffirmed a market perform rating on shares of Airgain in a research report on Wednesday, November 10th. Cowen lowered Airgain from an outperform rating to a market perform rating and dropped their target price for the company from $18.00 to $14.00 in a report on Thursday, October 14th. Roth Capital cut their target price on Airgain from $30.00 to $25.00 and set a buy rating on the stock in a research report on Wednesday, August 11th. Zacks Investment Research lowered Airgain from a hold rating to a sell rating in a research report on Wednesday, November 3rd. Finally, TheStreet downgraded shares of Airgain from a c- rating to a d+ rating in a report on Tuesday, October 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Airgain presently has a consensus rating of Hold and a consensus price target of $21.60.

In other news, Director James K. Sims bought 9,701 shares of the stock in a transaction dated Friday, November 12th. The stock was bought at an average price of $10.50 per share, for a total transaction of $101,860.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

An institutional investor recently raised its position in Airgain stock. Wells Fargo & Company MN grew its holdings in shares of Airgain, Inc. (NASDAQ:AIRG) by 64.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,865 shares of the technology company’s stock after purchasing an additional 2,300 shares during the quarter. Wells Fargo & Company MN owned about 0.06% of Airgain worth $121,000 at the end of the most recent reporting period. 55.97% of the stock is owned by institutional investors and hedge funds.

Airgain Company Profile

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.

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Earnings History and Estimates for Airgain (NASDAQ:AIRG)

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