Airgain, Inc. (AIRG) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS
Airgain, Inc. (NASDAQ:AIRG) announced its earnings results on Thursday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business earned $12.63 million during the quarter, compared to analyst estimates of $12.23 million. Airgain had a net margin of 6.41% and a negative return on equity of 8.73%. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.99) EPS.
Airgain (NASDAQ:AIRG) traded down 4.78% during midday trading on Thursday, hitting $14.94. The stock had a trading volume of 922,244 shares. The firm has a market capitalization of $113.20 million and a P/E ratio of 105.21. The firm has a 50-day moving average of $15.91 and a 200 day moving average of $15.63. Airgain has a 52-week low of $9.76 and a 52-week high of $29.30.
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A number of equities research analysts have weighed in on the stock. Vetr lowered shares of Airgain from a “strong-buy” rating to a “buy” rating and set a $17.52 target price for the company. in a research note on Monday. Zacks Investment Research lowered Airgain from a “hold” rating to a “sell” rating in a research note on Tuesday, January 24th. William Blair began coverage on Airgain in a research note on Thursday, December 15th. They issued an “outperform” rating for the company. Wunderlich lowered Airgain from a “buy” rating to a “hold” rating and set a $19.00 price objective for the company. in a research note on Wednesday, December 14th. Finally, Cowen and Company began coverage on Airgain in a research note on Monday, December 12th. They issued an “outperform” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Airgain has a consensus rating of “Buy” and a consensus target price of $18.50.
In other Airgain news, CFO Leonard Johnson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $15.97, for a total value of $159,700.00. Following the completion of the sale, the chief financial officer now directly owns 10,900 shares in the company, valued at $174,073. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charles A. Myers sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $15.90, for a total transaction of $795,000.00. Following the completion of the sale, the insider now owns 210,924 shares of the company’s stock, valued at $3,353,691.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,000 shares of company stock valued at $1,257,940.
Airgain Company Profile
Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.
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