Airgain (NASDAQ:AIRG) Releases Earnings Results, Meets Estimates

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

Airgain Trading Down 4.4%

Shares of NASDAQ:AIRG traded down $0.19 during trading on Tuesday, reaching $4.12. 92,029 shares of the stock were exchanged, compared to its average volume of 75,804. Airgain has a 12 month low of $3.00 and a 12 month high of $7.66. The firm has a market cap of $53.97 million, a PE ratio of -7.36 and a beta of 1.01. The stock has a 50-day moving average price of $4.62 and a 200-day moving average price of $5.46.

Analysts Set New Price Targets

AIRG has been the subject of several research analyst reports. Wall Street Zen downgraded Airgain from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Airgain in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.70.

Insider Buying and Selling at Airgain

In other news, Director James K. Sims purchased 8,269 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was acquired at an average cost of $5.11 per share, with a total value of $42,254.59. Following the acquisition, the director owned 457,733 shares in the company, valued at approximately $2,339,015.63. This trade represents a 1.84% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 16,500 shares of company stock worth $84,821 in the last 90 days. 17.50% of the stock is currently owned by company insiders.

About Airgain

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.