Insider Selling: Airgain (NASDAQ:AIRG) CEO Sells 6,112 Shares of Stock

Airgain, Inc. (NASDAQ:AIRG) CEO Jacob Suen sold 6,112 shares of Airgain stock in a transaction on Monday, February 9th. The stock was sold at an average price of $5.01, for a total value of $30,621.12. Following the sale, the chief executive officer directly owned 287,523 shares of the company’s stock, valued at $1,440,490.23. This represents a 2.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Jacob Suen also recently made the following trade(s):

• On Tuesday, February 10th, Jacob Suen sold 888 shares of Airgain stock. The stock was sold at an average price of $5.07, for a total transaction of $4,502.16.
• On Tuesday, January 20th, Jacob Suen sold 15,993 shares of Airgain stock. The stock was sold at an average price of $4.00, for a total value of $63,972.00.
• On Monday, November 24th, Jacob Suen sold 2,070 shares of Airgain stock. The stock was sold at an average price of $3.99, for a total transaction of $8,259.30.

Airgain Stock Performance

Shares of NASDAQ AIRG traded down $0.07 during trading hours on Wednesday, hitting $5.40. 30,429 shares of the stock were exchanged, compared to its average volume of 57,366. The company’s fifty day simple moving average is $4.23 and its two-hundred day simple moving average is $4.22. Airgain, Inc. has a 1-year low of $3.00 and a 1-year high of $7.39.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings results on Wednesday, November 12th. The technology company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Airgain had a negative return on equity of 16.03% and a negative net margin of 10.87%.The company had revenue of $14.02 million during the quarter, compared to analysts’ expectations of $14.13 million. As a group, research analysts expect that Airgain, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Airgain

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Airgain by 24.2% in the third quarter. Farther Finance Advisors LLC now owns 38,500 shares of the technology company’s stock valued at $167,000 after purchasing an additional 7,500 shares in the last quarter. Marathon Capital Management bought a new position in shares of Airgain in the second quarter valued at approximately $42,000. Susquehanna International Group LLP purchased a new position in Airgain during the third quarter valued at approximately $91,000. Citadel Advisors LLC grew its stake in Airgain by 270.1% during the third quarter. Citadel Advisors LLC now owns 27,214 shares of the technology company’s stock valued at $118,000 after acquiring an additional 43,214 shares in the last quarter. Finally, Nano Cap New Millennium Growth Fund L P purchased a new stake in shares of Airgain in the fourth quarter worth $934,000. 52.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AIRG has been the subject of several recent research reports. Northland Securities lowered their price objective on Airgain from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, November 17th. Lake Street Capital began coverage on Airgain in a research note on Wednesday, January 21st. They issued a “buy” rating and a $6.00 price objective on the stock. Craig Hallum lowered their price target on shares of Airgain from $7.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Royal Bank Of Canada set a $6.00 target price on shares of Airgain in a research note on Wednesday, January 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Airgain in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.20.

About Airgain

Airgain, Inc (NASDAQ: AIRG) is a provider of intelligent wireless connectivity solutions designed to enhance data transmission, network performance and antenna efficiency for a range of devices. Headquartered in San Diego, California, the company develops both embedded and external antenna systems, as well as associated connectivity software, to support wireless applications across cellular, Wi-Fi, machine-to-machine (M2M) and Internet of Things (IoT) markets.

The company’s product portfolio includes modular smart antennas, parallel path phase-diversity antennas and advanced array antenna solutions that are optimized for environments such as smart homes, industrial automation, transportation and enterprise networking.