Airgain (NASDAQ:AIRG) Upgraded to “Buy” by ValuEngine

ValuEngine upgraded shares of Airgain (NASDAQ:AIRG) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning, ValuEngine reports.

A number of other research analysts have also recently issued reports on the company. Cowen reissued an outperform rating and issued a $14.00 target price (down from $16.00) on shares of Airgain in a research note on Friday, August 9th. Zacks Investment Research cut Airgain from a buy rating to a hold rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $17.25.

NASDAQ:AIRG opened at $12.57 on Tuesday. Airgain has a 1 year low of $8.81 and a 1 year high of $17.25. The stock has a market cap of $126.47 million, a price-to-earnings ratio of 46.56 and a beta of 1.99. The stock has a 50-day moving average price of $11.78 and a two-hundred day moving average price of $13.46.

Airgain (NASDAQ:AIRG) last posted its earnings results on Thursday, August 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. Airgain had a return on equity of 5.94% and a net margin of 4.38%. The firm had revenue of $14.50 million during the quarter, compared to analysts’ expectations of $14.30 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts expect that Airgain will post 0.04 earnings per share for the current year.

In other news, CEO James K. Sims sold 22,464 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $14.20, for a total value of $318,988.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 8.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Airgain by 705.0% in the second quarter. BlackRock Inc. now owns 565,949 shares of the technology company’s stock valued at $8,007,000 after purchasing an additional 495,649 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Airgain by 17.0% in the second quarter. Vanguard Group Inc. now owns 406,876 shares of the technology company’s stock valued at $5,757,000 after purchasing an additional 59,210 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Airgain by 987.2% in the second quarter. Renaissance Technologies LLC now owns 209,824 shares of the technology company’s stock valued at $2,969,000 after purchasing an additional 190,524 shares in the last quarter. Kennedy Capital Management Inc. lifted its holdings in shares of Airgain by 3.5% in the first quarter. Kennedy Capital Management Inc. now owns 191,071 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 6,537 shares in the last quarter. Finally, Cadence Capital Management LLC lifted its holdings in shares of Airgain by 80.9% in the second quarter. Cadence Capital Management LLC now owns 183,182 shares of the technology company’s stock valued at $2,592,000 after purchasing an additional 81,906 shares in the last quarter. Institutional investors own 47.33% of the company’s stock.

About Airgain

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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