Beyond Air, Inc. (NASDAQ:XAIR) Sees Large Growth in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 124,457 shares, a growth of 88.6% from the April 15th total of 65,992 shares. Currently, 1.0% of the shares of the company are sold short. Based on an average daily volume of 418,301 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Beyond Air

A number of hedge funds and other institutional investors have recently bought and sold shares of XAIR. Geode Capital Management LLC raised its holdings in Beyond Air by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after acquiring an additional 12,598 shares during the period. Osaic Holdings Inc. increased its holdings in shares of Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares during the period. Virtu Financial LLC bought a new position in shares of Beyond Air in the third quarter worth $48,000. Alyeska Investment Group L.P. bought a new position in shares of Beyond Air in the third quarter worth $1,753,000. Finally, Alpine Global Management LLC bought a new position in shares of Beyond Air in the third quarter worth $25,000. Institutional investors own 31.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on XAIR. Rodman & Renshaw began coverage on shares of Beyond Air in a report on Tuesday, January 20th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of Beyond Air to a “sell” rating in a report on Saturday, March 7th. D. Boral Capital reaffirmed a “buy” rating and issued a $10.00 price target on shares of Beyond Air in a report on Friday, March 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.00.

Beyond Air Stock Performance

XAIR stock traded up $0.03 during midday trading on Friday, reaching $0.50. 169,798 shares of the company’s stock traded hands, compared to its average volume of 361,318. The company has a 50-day moving average price of $0.66 and a two-hundred day moving average price of $1.04. The company has a debt-to-equity ratio of 2.65, a quick ratio of 4.77 and a current ratio of 5.12. Beyond Air has a 52 week low of $0.42 and a 52 week high of $5.84. The firm has a market capitalization of $6.57 million, a PE ratio of -0.09 and a beta of 0.30.

Beyond Air (NASDAQ:XAIR) last issued its earnings results on Friday, February 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. The business had revenue of $2.19 million for the quarter, compared to the consensus estimate of $2.15 million.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.