Navellier & Associates Inc bought a new position in Airgain Inc (NASDAQ:AIRG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,571 shares of the technology company’s stock, valued at approximately $305,000. Navellier & Associates Inc owned approximately 0.21% of Airgain as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Kennedy Capital Management Inc. lifted its holdings in shares of Airgain by 3.5% in the first quarter. Kennedy Capital Management Inc. now owns 191,071 shares of the technology company’s stock worth $2,451,000 after buying an additional 6,537 shares in the last quarter. Alambic Investment Management L.P. lifted its holdings in shares of Airgain by 45.3% in the first quarter. Alambic Investment Management L.P. now owns 140,322 shares of the technology company’s stock worth $1,800,000 after buying an additional 43,736 shares in the last quarter. Cadence Capital Management LLC purchased a new position in shares of Airgain in the first quarter worth $1,299,000. Perkins Capital Management Inc. lifted its holdings in shares of Airgain by 1.4% in the first quarter. Perkins Capital Management Inc. now owns 93,800 shares of the technology company’s stock worth $1,203,000 after buying an additional 1,250 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Airgain in the first quarter worth $930,000. 35.06% of the stock is currently owned by hedge funds and other institutional investors.
Airgain stock opened at $13.26 on Wednesday. The stock has a market capitalization of $133.21 million, a P/E ratio of -49.11 and a beta of 1.94. The company’s fifty day simple moving average is $14.05. Airgain Inc has a 52-week low of $8.34 and a 52-week high of $17.25.
Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Thursday, May 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The business had revenue of $15.10 million for the quarter, compared to analysts’ expectations of $15.04 million. Airgain had a negative net margin of 1.83% and a negative return on equity of 2.57%. Airgain’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS.
In other Airgain news, President Jacob Suen sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the president now owns 45,630 shares in the company, valued at $684,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James K. Sims sold 22,464 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $14.20, for a total transaction of $318,988.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,428 shares of company stock worth $503,485. 8.40% of the stock is owned by insiders.
A number of research firms recently issued reports on AIRG. Zacks Investment Research downgraded shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. B. Riley upped their price target on shares of Airgain from $19.00 to $22.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Northland Securities set a $50.00 price target on shares of Polarityte and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.75.
Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.
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