Airgain, Inc. (NASDAQ:AIRG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Airgain, Inc. (NASDAQ:AIRG) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.20.

AIRG has been the topic of several analyst reports. Royal Bank Of Canada set a $6.00 target price on Airgain in a report on Wednesday, January 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Airgain in a report on Monday, April 20th. Wall Street Zen raised Airgain to a “hold” rating in a research report on Saturday, March 28th. Finally, Lake Street Capital initiated coverage on shares of Airgain in a research note on Wednesday, January 21st. They issued a “buy” rating and a $6.00 price target on the stock.

Airgain Stock Up 1.3%

Airgain stock opened at $7.07 on Friday. Airgain has a twelve month low of $3.00 and a twelve month high of $7.20. The company has a market capitalization of $86.40 million, a P/E ratio of -13.34 and a beta of 0.76. The stock’s 50 day moving average is $5.28 and its 200 day moving average is $4.60.

Insiders Place Their Bets

In related news, CEO Jacob Suen sold 37,314 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $4.12, for a total transaction of $153,733.68. Following the completion of the sale, the chief executive officer owned 284,431 shares of the company’s stock, valued at $1,171,855.72. This trade represents a 11.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Ali Sadri sold 13,638 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $4.12, for a total transaction of $56,188.56. Following the completion of the transaction, the chief technology officer owned 126,263 shares of the company’s stock, valued at approximately $520,203.56. The trade was a 9.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 83,653 shares of company stock valued at $360,404. Insiders own 17.80% of the company’s stock.

Institutional Trading of Airgain

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its holdings in shares of Airgain by 24.2% during 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. XTX Topco Ltd purchased a new position in Airgain in the fourth quarter worth about $44,000. Susquehanna International Group LLP purchased a new position in shares of Airgain in the third quarter worth approximately $91,000. Citadel Advisors LLC grew its position in shares of Airgain by 270.1% during the 3rd 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 during the period. Finally, Nano Cap New Millennium Growth Fund L P bought a new stake in Airgain during the fourth quarter valued at about $934,000. Institutional investors own 52.76% of the company’s stock.

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.