Arthur M. Toscanini Sells 6,912 Shares of Airgain, Inc. (NASDAQ:AIRG) Stock

Airgain, Inc. (NASDAQ:AIRG) Director Arthur M. Toscanini sold 6,912 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $4.01, for a total value of $27,717.12. Following the transaction, the director now directly owns 89,956 shares in the company, valued at approximately $360,723.56. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Airgain Stock Down 1.7%

Shares of Airgain stock opened at $4.05 on Wednesday. The company has a market cap of $47.77 million, a PE ratio of -3.55 and a beta of 0.87. Airgain, Inc. has a 52 week low of $3.17 and a 52 week high of $10.34. The business has a 50 day moving average price of $3.86 and a 200-day moving average price of $6.22.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings data on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.14). The company had revenue of $15.08 million during the quarter, compared to analysts’ expectations of $16.35 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. As a group, research analysts anticipate that Airgain, Inc. will post -0.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com assumed coverage on Airgain in a research note on Tuesday. They set a “hold” rating on the stock. Craig Hallum dropped their price target on Airgain from $9.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th.

Institutional Trading of Airgain

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Airgain in the fourth quarter worth approximately $73,000. Marshall Wace LLP bought a new position in shares of Airgain in the fourth quarter valued at approximately $75,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Airgain in the fourth quarter valued at approximately $107,000. Essex Investment Management Co. LLC bought a new position in shares of Airgain in the fourth quarter valued at approximately $145,000. Finally, Jane Street Group LLC bought a new position in shares of Airgain in the fourth quarter valued at approximately $192,000. 52.76% of the stock is owned by hedge funds and other institutional investors.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.