Airgain (AIRG) Lifted to Buy at Zacks Investment Research

Airgain (NASDAQ:AIRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The brokerage currently has a $12.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 1.35% from the stock’s previous close.

According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “

Separately, Cowen lifted their price target on shares of Airgain from $12.00 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, November 2nd. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $13.50.

AIRG stock traded up $1.35 on Friday, reaching $11.84. 7,330 shares of the company were exchanged, compared to its average volume of 32,476. Airgain has a 12 month low of $7.40 and a 12 month high of $14.17. The firm has a market capitalization of $96.57 million, a P/E ratio of 107.64 and a beta of 1.60.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings results on Thursday, February 14th. The technology company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.09. Airgain had a negative net margin of 5.74% and a negative return on equity of 7.35%. The firm had revenue of $16.56 million for the quarter, compared to the consensus estimate of $16.44 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The business’s revenue was up 29.3% compared to the same quarter last year. As a group, equities analysts anticipate that Airgain will post -0.37 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of AIRG. Dimensional Fund Advisors LP acquired a new stake in Airgain during the second quarter worth $138,000. Perkins Capital Management Inc. acquired a new stake in Airgain during the third quarter worth $822,000. Northpointe Capital LLC boosted its stake in Airgain by 332.7% during the third quarter. Northpointe Capital LLC now owns 265,951 shares of the technology company’s stock worth $3,495,000 after buying an additional 204,487 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Airgain by 49.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,780 shares of the technology company’s stock valued at $680,000 after purchasing an additional 17,238 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Airgain in the 3rd quarter valued at $879,000. Hedge funds and other institutional investors own 31.10% of the company’s stock.

Airgain Company Profile

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, and service providers 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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