Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Update

Beyond Air, Inc. (NASDAQ:XAIR) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 21,447 shares, a decrease of 93.5% from the June 30th total of 331,830 shares. Based on an average daily volume of 23,934 shares, the short-interest ratio is presently 0.9 days. Approximately 3.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Beyond Air currently has an average rating of “Hold” and an average price target of $200.00.

Beyond Air Stock Down 5.7%

NASDAQ:XAIR traded down $0.31 during trading hours on Friday, reaching $5.16. The company had a trading volume of 8,742 shares, compared to its average volume of 20,526. Beyond Air has a twelve month low of $5.16 and a twelve month high of $95.60. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48. The firm has a market cap of $3.72 million, a price-to-earnings ratio of -0.06 and a beta of 0.22. The business’s 50-day simple moving average is $8.00 and its two-hundred day simple moving average is $14.62.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings data on Friday, June 26th. The company reported ($15.40) earnings per share for the quarter, missing the consensus estimate of ($11.33) by ($4.07). The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.30 million. Beyond Air had a negative net margin of 432.99% and a negative return on equity of 350.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Beyond Air by 1.5% in the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after acquiring an additional 12,598 shares during the period. Virtu Financial LLC bought a new position in shares of Beyond Air in the 3rd quarter worth $48,000. Osaic Holdings Inc. lifted its holdings in shares of Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in shares of Beyond Air in the 3rd quarter worth $1,753,000. Institutional investors own 31.50% of the company’s stock.

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.