Airgain (NASDAQ:AIRG) Downgraded by Northland Securities to Market Perform

Airgain (NASDAQ:AIRG) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $4.50 price target on the technology company’s stock. Northland Securities‘s target price indicates a potential upside of 16.88% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Airgain in a research report on Wednesday, October 21st. Wall Street Zen cut shares of Airgain from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.90.

Airgain Trading Down 6.6%

Shares of AIRG stock opened at $3.85 on Thursday. Airgain has a fifty-two week low of $3.00 and a fifty-two week high of $7.66. The stock has a 50 day simple moving average of $4.57 and a two-hundred day simple moving average of $5.46.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings results on Tuesday, November 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $15.32 million for the quarter, compared to analysts’ expectations of $15.24 million. Airgain had a negative return on equity of 13.79% and a negative net margin of 12.59%. On average, analysts forecast that Airgain will post -0.19 earnings per share for the current year.

Insider Buying and Selling

In other Airgain news, Director James K. Sims acquired 8,269 shares of the stock in a transaction on Tuesday, September 1st. The shares were purchased at an average price of $5.11 per share, for a total transaction of $42,254.59. Following the completion of the acquisition, the director owned 457,733 shares in the company, valued at approximately $2,339,015.63. This represents a 1.84% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have acquired 16,500 shares of company stock worth $84,821. Insiders own 17.50% of the company’s stock.

Institutional Trading of Airgain

Institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its holdings in shares of Airgain by 4.6% in the first quarter. Renaissance Technologies LLC now owns 336,336 shares of the technology company’s stock valued at $1,850,000 after purchasing an additional 14,700 shares during the last quarter. BlackRock Inc. purchased a new position in Airgain during the second quarter worth about $1,355,000. Whitcomb & Hess Inc. boosted its holdings in Airgain by 36.0% during the second quarter. Whitcomb & Hess Inc. now owns 56,706 shares of the technology company’s stock worth $357,000 after purchasing an additional 15,022 shares during the last quarter. AXQ Capital LP purchased a new position in Airgain during the second quarter worth about $79,000. Finally, Bank of America Corp DE bought a new stake in Airgain in the 2nd quarter worth about $77,000. 52.76% of the stock is owned by hedge funds and other institutional investors.

Airgain Company Profile

Airgain, Inc. is a wireless connectivity company that designs and develops antenna systems, embedded components and related products for connected devices and networks. Its technologies are intended to improve the performance, reliability and coverage of wireless communications across cellular, Wi-Fi and other radio-frequency applications. The company serves markets including automotive, consumer electronics, enterprise networking, public safety, fixed wireless access and the Internet of Things.