Navellier & Associates Inc Invests $305,000 in Airgain Inc (NASDAQ:AIRG)

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 Profile

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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Institutional Ownership by Quarter for Airgain (NASDAQ:AIRG)

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