Beyond Air (NASDAQ:XAIR) Stock Price Down 6.9% – What’s Next?

Beyond Air, Inc. (NASDAQ:XAIR) traded down 6.9% during trading on Tuesday . The stock traded as low as $0.85 and last traded at $0.8574. 187,967 shares changed hands during mid-day trading, an increase of 66% from the average session volume of 113,148 shares. The stock had previously closed at $0.9208.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (e)” rating on shares of Beyond Air in a research note on Monday. D. Boral Capital reissued a “buy” rating and set a $11.00 price objective on shares of Beyond Air in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Beyond Air Trading Down 4.4%

The firm has a market capitalization of $6.57 million, a P/E ratio of -0.11 and a beta of 0.30. The company has a current ratio of 4.24, a quick ratio of 3.73 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $2.44.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.25) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.15). The business had revenue of $1.82 million during the quarter, compared to the consensus estimate of $2.54 million. Beyond Air had a negative return on equity of 261.08% and a negative net margin of 632.51%. On average, equities research analysts forecast that Beyond Air, Inc. will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Beyond Air

Several hedge funds and other institutional investors have recently modified their holdings of XAIR. Alpine Global Management LLC bought a new position in Beyond Air in the 3rd quarter worth $25,000. Alyeska Investment Group L.P. purchased a new stake in Beyond Air in the third quarter worth about $1,753,000. Virtu Financial LLC bought a new position in shares of Beyond Air in the third quarter worth about $48,000. Osaic Holdings Inc. lifted its position in shares of Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after buying an additional 34,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Beyond Air by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after acquiring an additional 12,598 shares during the period. 31.50% of the stock is currently owned by hedge funds and other 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.