Beyond Air (NASDAQ:XAIR) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Beyond Air (NASDAQ:XAIR) released its quarterly earnings results on Monday. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.02, Zacks reports. Beyond Air had a negative return on equity of 240.15% and a negative net margin of 3,272.46%. During the same period in the prior year, the firm posted ($0.51) earnings per share.

Beyond Air Stock Up 7.6 %

Shares of NASDAQ:XAIR opened at $0.51 on Tuesday. The firm has a market cap of $24.07 million, a P/E ratio of -0.31 and a beta of -0.18. Beyond Air has a 12-month low of $0.30 and a 12-month high of $2.36. The business has a fifty day simple moving average of $0.40 and a 200 day simple moving average of $0.69. The company has a quick ratio of 2.42, a current ratio of 2.63 and a debt-to-equity ratio of 0.84.

Insider Buying and Selling

In other news, CEO Steven A. Lisi bought 1,476,626 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were acquired at an average price of $0.50 per share, for a total transaction of $738,313.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,249,411 shares in the company, valued at approximately $1,624,705.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Beyond Air news, CEO Steven A. Lisi purchased 1,476,626 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were purchased at an average cost of $0.50 per share, with a total value of $738,313.00. Following the completion of the purchase, the chief executive officer now owns 3,249,411 shares in the company, valued at $1,624,705.50. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven A. Lisi acquired 100,000 shares of Beyond Air stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of $0.39 per share, with a total value of $39,000.00. Following the transaction, the chief executive officer now owns 1,722,785 shares in the company, valued at approximately $671,886.15. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,615,892 shares of company stock valued at $793,019 over the last ninety days. 19.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on XAIR shares. Roth Mkm reissued a “buy” rating and issued a $2.00 target price on shares of Beyond Air in a research report on Friday, August 16th. Roth Capital raised shares of Beyond Air to a “strong-buy” rating in a report on Friday, August 16th. Finally, Piper Sandler decreased their target price on shares of Beyond Air from $3.50 to $1.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $3.67.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.