Truist Financial Cuts Beyond Air (NASDAQ:XAIR) Price Target to $8.00

Beyond Air (NASDAQ:XAIR) had its price objective cut by research analysts at Truist Financial from $10.00 to $8.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock.

Beyond Air Price Performance

NASDAQ:XAIR traded up $0.02 during trading hours on Tuesday, reaching $1.09. 315,698 shares of the company were exchanged, compared to its average volume of 310,840. The business has a 50 day moving average of $1.60 and a 200 day moving average of $1.74. The company has a market capitalization of $39.28 million, a P/E ratio of -0.52 and a beta of -0.18. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.39 and a quick ratio of 3.26. Beyond Air has a 1-year low of $1.06 and a 1-year high of $6.36.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Monday, February 12th. The company reported ($0.50) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.11. The firm had revenue of $0.39 million for the quarter, compared to analyst estimates of $0.49 million. During the same period in the previous year, the business posted ($0.43) earnings per share. Research analysts forecast that Beyond Air will post -1.93 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rosalind Advisors Inc. bought a new position in Beyond Air during the first quarter worth $1,572,000. Gendell Jeffrey L grew its holdings in Beyond Air by 26.3% during the 3rd quarter. Gendell Jeffrey L now owns 1,090,297 shares of the company’s stock worth $2,519,000 after acquiring an additional 226,959 shares during the period. Wealth Effects LLC raised its position in shares of Beyond Air by 27.6% in the 4th quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock worth $870,000 after acquiring an additional 96,150 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in shares of Beyond Air during the 4th quarter valued at about $70,000. Finally, Keel Point LLC acquired a new stake in Beyond Air during the fourth quarter worth approximately $30,000. Institutional investors own 31.50% of the company’s stock.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.