Beyond Air (NASDAQ:XAIR) Announces Earnings Results

Beyond Air (NASDAQ:XAIR) released its quarterly earnings data on Wednesday. The company reported ($3.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.31) by ($0.45), Zacks reports. Beyond Air had a negative return on equity of 440.26% and a negative net margin of 435.71%.

Beyond Air Stock Up 3.6%

Shares of XAIR traded up $0.09 during mid-day trading on Wednesday, reaching $2.61. 641,493 shares of the stock traded hands, compared to its average volume of 182,259. The stock has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $9.55. Beyond Air has a 12-month low of $2.05 and a 12-month high of $53.20. The company has a quick ratio of 3.12, a current ratio of 3.31 and a debt-to-equity ratio of 7.81. The firm has a market cap of $2.50 million, a price-to-earnings ratio of -0.04 and a beta of 0.23.

Analysts Set New Price Targets

A number of brokerages have recently commented on XAIR. Lake Street Capital started coverage on shares of Beyond Air in a research note on Tuesday, September 1st. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings upgraded Beyond Air from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Beyond Air presently has a consensus rating of “Moderate Buy” and an average price target of $105.00.

About Beyond Air

Beyond Air, Inc. is a medical technology and biopharmaceutical company focused on developing nitric oxide (NO) therapies and delivery systems for respiratory diseases and other serious medical conditions. Its platform is designed to generate NO from ambient air at the point of care, potentially reducing reliance on traditional high-pressure gas cylinders. The company’s primary product family is LungFit, a series of compact NO delivery systems intended for use in hospital and clinical settings. LungFit PH is designed to deliver inhaled nitric oxide to term and near-term neonates with hypoxic respiratory failure associated with pulmonary hypertension.