Wall Street brokerages forecast that Airgain Inc (NASDAQ:AIRG) will announce sales of $15.70 million for the current quarter, according to Zacks. Three analysts have provided estimates for Airgain’s earnings. Airgain reported sales of $12.45 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.1%. The company is scheduled to report its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that Airgain will report full year sales of $60.48 million for the current financial year, with estimates ranging from $60.00 million to $60.95 million. For the next fiscal year, analysts anticipate that the company will report sales of $67.91 million, with estimates ranging from $67.00 million to $68.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Airgain.
Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Thursday, August 9th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.07. The business had revenue of $15.00 million during the quarter, compared to the consensus estimate of $14.02 million. Airgain had a negative return on equity of 7.47% and a negative net margin of 6.48%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $0.10 earnings per share.
A number of equities research analysts recently commented on AIRG shares. William Blair reaffirmed an “outperform” rating on shares of Airgain in a report on Friday, August 17th. TheStreet raised Airgain from a “d+” rating to a “c” rating in a report on Monday, September 17th. ValuEngine raised Airgain from a “hold” rating to a “buy” rating in a report on Friday, August 10th. Finally, B. Riley raised Airgain from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $8.50 to $13.00 in a report on Friday, August 10th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $12.67.
Several institutional investors have recently added to or reduced their stakes in the stock. Worth Venture Partners LLC lifted its holdings in shares of Airgain by 13.2% during the first quarter. Worth Venture Partners LLC now owns 76,969 shares of the technology company’s stock worth $596,000 after purchasing an additional 8,987 shares during the period. Trellus Management Company LLC lifted its holdings in shares of Airgain by 14.3% during the second quarter. Trellus Management Company LLC now owns 80,000 shares of the technology company’s stock worth $735,000 after purchasing an additional 10,000 shares during the period. Manatuck Hill Partners LLC acquired a new stake in shares of Airgain during the second quarter worth about $116,000. Dimensional Fund Advisors LP acquired a new stake in shares of Airgain during the second quarter worth about $138,000. Finally, Blair William & Co. IL lifted its holdings in Airgain by 8.3% in the first quarter. Blair William & Co. IL now owns 499,346 shares of the technology company’s stock valued at $3,865,000 after acquiring an additional 38,092 shares during the period. 29.77% of the stock is owned by hedge funds and other institutional investors.
Airgain stock opened at $13.02 on Friday. Airgain has a 52 week low of $7.31 and a 52 week high of $13.80. The stock has a market cap of $132.36 million, a P/E ratio of 118.36 and a beta of 2.30.
Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, and service providers 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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