Airgain (NASDAQ:AIRG) Issues Earnings Results, Meets Expectations

Airgain (NASDAQ:AIRG) issued its quarterly earnings results on Tuesday. The technology company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04, FiscalAI reports. Airgain had a negative return on equity of 13.72% and a negative net margin of 13.65%. The business had revenue of $15.32 million for the quarter, compared to the consensus estimate of $15.24 million.

Airgain Stock Down 4.4%

Shares of NASDAQ:AIRG traded down $0.19 during midday trading on Tuesday, hitting $4.12. The stock had a trading volume of 92,029 shares, compared to its average volume of 75,804. The company’s 50-day moving average price is $4.62 and its 200-day moving average price is $5.46. The company has a market capitalization of $53.97 million, a P/E ratio of -7.36 and a beta of 1.01. Airgain has a fifty-two week low of $3.00 and a fifty-two week high of $7.66.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AIRG. Wall Street Zen downgraded Airgain from a “buy” rating to a “hold” rating in a research report on Sunday, October 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Airgain in a report on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $7.70.

Insider Activity

In other news, Director James K. Sims acquired 8,269 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were acquired at an average cost of $5.11 per share, with a total value of $42,254.59. Following the completion of the purchase, the director directly owned 457,733 shares of the company’s stock, valued at $2,339,015.63. The trade was a 1.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have purchased 16,500 shares of company stock worth $84,821. Company insiders own 17.50% of the company’s stock.

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.