Airgain (NASDAQ:AIRG) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of ($0.01)-$0.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.06. The company issued revenue guidance of $14.2-$14.4 million, compared to the consensus revenue estimate of $16.33 million.
Shares of NASDAQ:AIRG traded down $0.30 on Friday, reaching $15.42. 488,757 shares of the company’s stock were exchanged, compared to its average volume of 177,042. Airgain has a twelve month low of $7.85 and a twelve month high of $17.25. The firm has a market cap of $155.13 million, a PE ratio of -57.11 and a beta of 1.83.
Airgain (NASDAQ:AIRG) last announced its earnings results on Thursday, May 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The business had revenue of $15.10 million for the quarter, compared to analyst estimates of $15.04 million. Airgain had a negative return on equity of 2.60% and a negative net margin of 1.83%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.07) EPS. Analysts forecast that Airgain will post 0.13 earnings per share for the current fiscal year.
Several research firms recently issued reports on AIRG. Northland Securities reiterated a buy rating and set a $17.00 price target on shares of Airgain in a research report on Friday. Zacks Investment Research upgraded shares of Airgain from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Friday, April 19th. Finally, B. Riley increased their price target on shares of Airgain from $19.00 to $22.00 and gave the stock a buy rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Airgain currently has an average rating of Buy and a consensus price target of $18.25.
In related news, President Jacob Suen sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $12.73, for a total value of $127,300.00. Following the completion of the transaction, the president now owns 45,570 shares of the company’s stock, valued at approximately $580,106.10. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arthur M. Toscanini sold 23,492 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $13.00, for a total transaction of $305,396.00. Following the completion of the transaction, the director now directly owns 64,313 shares of the company’s stock, valued at approximately $836,069. The disclosure for this sale can be found here. Insiders have sold a total of 50,964 shares of company stock worth $672,751 in the last quarter. 20.40% of the stock is currently owned by company insiders.
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Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors 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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