Airgain Inc (AIRG) Expected to Post Quarterly Sales of $15.70 Million

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.

About Airgain

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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