Beyond Air (NASDAQ:XAIR) Issues Earnings Results, Misses Expectations By $0.20 EPS

Beyond Air (NASDAQ:XAIR) released its quarterly earnings data on Friday. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.20), Zacks reports. Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%.

Beyond Air Stock Performance

XAIR stock opened at $0.48 on Friday. Beyond Air has a 1-year low of $0.33 and a 1-year high of $4.78. The business has a 50-day moving average price of $0.46 and a 200 day moving average price of $0.81. The company has a market capitalization of $6.30 million, a P/E ratio of -0.09 and a beta of 0.26. The company has a debt-to-equity ratio of 2.65, a current ratio of 5.12 and a quick ratio of 4.77.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on XAIR shares. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of Beyond Air in a research report on Friday, March 27th. Wall Street Zen upgraded Beyond Air to a “sell” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Beyond Air by 57.5% in the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after purchasing an additional 24,695 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Beyond Air during the third quarter valued at approximately $1,753,000. Virtu Financial LLC purchased a new position in Beyond Air during the third quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. increased its holdings in Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after buying an additional 34,000 shares during the period. 31.50% of the stock is currently owned by institutional investors.

Beyond Air Company Profile

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.