Airgain (NASDAQ:AIRG) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Airgain (NASDAQ:AIRG) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $16.00 price objective on the technology company’s stock.

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. “

AIRG has been the subject of several other research reports. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. B. Riley upped their price target on shares of Airgain from $19.00 to $22.00 and gave the stock a buy rating in a research report on Monday, May 6th. Finally, Northland Securities set a $50.00 price target on shares of Polarityte and gave the stock a buy rating in a research report on Friday, May 10th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $17.75.

AIRG stock opened at $14.39 on Wednesday. The stock’s 50-day moving average price is $13.96. Airgain has a 52-week low of $8.34 and a 52-week high of $17.25. The stock has a market cap of $144.76 million, a price-to-earnings ratio of -53.30 and a beta of 1.94.

Airgain (NASDAQ:AIRG) last posted its earnings results on Thursday, May 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Airgain had a negative return on equity of 2.57% and a negative net margin of 1.83%. The firm had revenue of $15.10 million for the quarter, compared to analysts’ expectations of $15.04 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The company’s revenue was up 13.5% compared to the same quarter last year.

In related news, President Jacob Suen sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the transaction, the president now owns 45,630 shares in the company, valued at approximately $684,450. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC acquired a new stake in Airgain in the 4th quarter valued at about $75,000. BerganKDV Wealth Management LLC acquired a new stake in Airgain in the 1st quarter valued at about $128,000. Trellus Management Company LLC raised its holdings in Airgain by 22.8% in the 1st quarter. Trellus Management Company LLC now owns 23,796 shares of the technology company’s stock valued at $305,000 after acquiring an additional 4,418 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Airgain in the 1st quarter valued at about $345,000. Finally, Punch & Associates Investment Management Inc. acquired a new stake in Airgain in the 1st quarter valued at about $413,000. Hedge funds and other institutional investors own 34.89% of the company’s stock.

Airgain Company Profile

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