Airgain (AIRG) Updates Q2 Earnings Guidance

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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About Airgain

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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