Airgain, Inc. (NASDAQ:AIRG) CEO Sells $58,651.05 in Stock

Airgain, Inc. (NASDAQ:AIRG) CEO Jacob Suen sold 12,093 shares of Airgain stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $4.85, for a total value of $58,651.05. Following the completion of the transaction, the chief executive officer now directly owns 229,999 shares in the company, valued at $1,115,495.15. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Airgain Stock Performance

Airgain stock opened at $4.73 on Wednesday. The stock’s 50 day moving average price is $6.70 and its 200 day moving average price is $7.78. The firm has a market capitalization of $54.67 million, a PE ratio of -4.15 and a beta of 0.67. Airgain, Inc. has a one year low of $3.72 and a one year high of $10.34.

Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.14). The company had revenue of $15.08 million for the quarter, compared to analyst estimates 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, Inc. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Airgain

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of Airgain by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after purchasing an additional 20,970 shares in the last quarter. US Bancorp DE raised its position in shares of Airgain by 3.7% in the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock valued at $502,000 after purchasing an additional 2,400 shares in the last quarter. Essex Investment Management Co. LLC acquired a new position in shares of Airgain in the 4th quarter valued at approximately $145,000. Bailard Inc. acquired a new position in shares of Airgain in the 4th quarter valued at approximately $235,000. Finally, Jane Street Group LLC acquired a new position in shares of Airgain in the 4th quarter valued at approximately $192,000. 52.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AIRG. Craig Hallum reduced their price objective on Airgain from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Northland Securities reaffirmed an “outperform” rating and issued a $11.50 price objective (up from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

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.