Airgain (NASDAQ:AIRG) Stock Price Passes Below 50-Day Moving Average – What’s Next?

Airgain, Inc. (NASDAQ:AIRG)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.92 and traded as low as $7.44. Airgain shares last traded at $7.95, with a volume of 32,668 shares.

Wall Street Analyst Weigh In

A number of research analysts have commented on AIRG shares. Craig Hallum upped their target price on shares of Airgain from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Northland Securities restated an “outperform” rating and issued a $11.50 price objective (up from $8.00) on shares of Airgain in a report on Wednesday, November 13th.

Airgain Stock Performance

The stock has a market cap of $90.19 million, a price-to-earnings ratio of -6.97 and a beta of 0.72. The company has a 50 day moving average of $7.92 and a 200-day moving average of $7.86.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.08). Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. The business had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $16.00 million. During the same period in the previous year, the business posted ($0.11) EPS. On average, research analysts anticipate that Airgain, Inc. will post -0.5 EPS for the current year.

Insider Transactions at Airgain

In related news, CFO Michael Elbaz sold 6,777 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $9.09, for a total transaction of $61,602.93. Following the sale, the chief financial officer now directly owns 102,794 shares in the company, valued at approximately $934,397.46. This represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of Airgain by 195.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock valued at $274,000 after purchasing an additional 24,000 shares in the last quarter. Geode Capital Management LLC raised its stake in Airgain by 23.2% in the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after buying an additional 20,970 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Airgain by 0.8% during the 2nd quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock worth $2,128,000 after buying an additional 2,800 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of Airgain by 3.7% during the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 52.76% of the company’s stock.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.