Craig Hallum Issues Pessimistic Forecast for Airgain (NASDAQ:AIRG) Stock Price

Airgain (NASDAQ:AIRG) had its price target lowered by investment analysts at Craig Hallum from $12.00 to $9.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target would indicate a potential upside of 61.15% from the stock’s previous close.

Separately, Northland Securities reaffirmed an “outperform” rating and issued a $11.50 target price (up previously from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

Airgain Price Performance

Shares of Airgain stock traded down $0.56 on Friday, hitting $5.59. 15,459 shares of the company’s stock traded hands, compared to its average volume of 27,110. Airgain has a one year low of $3.72 and a one year high of $10.34. The stock has a market capitalization of $63.36 million, a PE ratio of -4.90 and a beta of 0.71. The firm’s 50-day moving average price is $7.03 and its two-hundred day moving average price is $7.91.

Airgain (NASDAQ:AIRG) last issued its earnings results on Thursday, February 27th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The company had revenue of $15.08 million for the quarter, compared to the consensus estimate of $16.35 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. On average, analysts forecast that Airgain will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in Airgain during the fourth quarter worth $73,000. Marshall Wace LLP acquired a new stake in shares of Airgain during the 4th quarter worth about $75,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Airgain during the fourth quarter worth approximately $107,000. Essex Investment Management Co. LLC acquired a new stake in shares of Airgain during the fourth quarter worth $145,000. Finally, Jane Street Group LLC acquired a new stake in shares of Airgain in the fourth quarter valued at approximately $192,000. Institutional investors and hedge funds own 52.76% of the company’s stock.

Airgain Company Profile

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.