Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Up 150.9% in June

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 331,830 shares, an increase of 150.9% from the June 15th total of 132,235 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 400,413 shares, the short-interest ratio is currently 0.8 days.

Beyond Air Stock Performance

Shares of XAIR opened at $5.61 on Thursday. The firm’s fifty day simple moving average is $8.64 and its two-hundred day simple moving average is $15.07. Beyond Air has a 12 month low of $5.30 and a 12 month high of $95.60. The stock has a market capitalization of $4.04 million, a P/E ratio of -0.06 and a beta of 0.22. The company has a current ratio of 3.80, a quick ratio of 3.59 and a debt-to-equity ratio of 3.48.

Beyond Air (NASDAQ:XAIR) last released its quarterly earnings data on Friday, June 26th. The company reported ($15.40) earnings per share for the quarter, missing the consensus estimate of ($11.33) by ($4.07). The company had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.30 million. Beyond Air had a negative net margin of 432.99% and a negative return on equity of 350.00%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. D. Boral Capital reissued a “buy” rating and set a $200.00 price target on shares of Beyond Air in a report on Friday, March 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a research note on Friday, April 24th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $200.00.

Institutional Investors Weigh In On Beyond Air

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. purchased a new stake in Beyond Air in the 3rd quarter worth about $1,753,000. Osaic Holdings Inc. boosted its stake in shares of Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares in the last quarter. Geode Capital Management LLC increased its stake in Beyond Air by 57.5% in the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after purchasing an additional 24,695 shares during the period. Virtu Financial LLC purchased a new position in shares of Beyond Air in the third quarter valued at about $48,000. Finally, Alpine Global Management LLC purchased a new position in shares of Beyond Air during the third quarter valued at approximately $25,000. 31.50% of the stock is owned by institutional investors.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.