Beyond Air, Inc. (NASDAQ:XAIR) Sees Large Increase in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 295,400 shares, anincreaseof434.2% from the June 30th total of 55,300 shares. Based on an average trading volume of 241,200 shares, the short-interest ratio is currently 1.2 days. Approximately7.3% of the company’s stock are sold short. Approximately7.3% of the company’s stock are sold short. Based on an average trading volume of 241,200 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of Beyond Air

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new stake in Beyond Air during the first quarter worth $31,000. Wealth Effects LLC grew its stake in shares of Beyond Air by 42.5% in the second quarter. Wealth Effects LLC now owns 278,100 shares of the company’s stock valued at $48,000 after acquiring an additional 83,000 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Beyond Air in the fourth quarter valued at about $48,000. Wealthedge Investment Advisors LLC acquired a new position in shares of Beyond Air in the fourth quarter valued at about $80,000. Finally, Geode Capital Management LLC grew its stake in Beyond Air by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 562,713 shares of the company’s stock worth $202,000 after buying an additional 251,823 shares in the last quarter. 31.50% of the stock is owned by institutional investors.

Beyond Air Stock Performance

Shares of XAIR stock opened at $2.85 on Tuesday. The company’s fifty day simple moving average is $3.59 and its 200-day simple moving average is $4.88. The company has a quick ratio of 2.72, a current ratio of 3.20 and a debt-to-equity ratio of 0.64. The firm has a market cap of $13.22 million, a PE ratio of -0.18 and a beta of 0.25. Beyond Air has a 12 month low of $2.75 and a 12 month high of $13.52.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings data on Tuesday, June 17th. The company reported ($1.80) EPS for the quarter, topping analysts’ consensus estimates of ($2.80) by $1.00. Beyond Air had a negative net margin of 1,258.46% and a negative return on equity of 233.96%. The business had revenue of $1.15 million for the quarter, compared to analyst estimates of $1.39 million. Equities research analysts expect that Beyond Air will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

XAIR has been the topic of a number of research analyst reports. D Boral Capital upgraded shares of Beyond Air to a “strong-buy” rating in a report on Thursday, July 17th. D. Boral Capital initiated coverage on shares of Beyond Air in a report on Thursday, July 17th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Beyond Air from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Beyond Air currently has an average rating of “Buy” and an average target price of $23.67.

About Beyond Air

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.