Airgain (NASDAQ:AIRG) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.04)-$0.05 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.03. The company issued revenue guidance of $12-14 million, compared to the consensus revenue estimate of $15.98 million.Airgain also updated its Q3 2019 guidance to $-0.04-0.05 EPS.
Several brokerages have recently issued reports on AIRG. Zacks Investment Research downgraded Airgain from a buy rating to a hold rating in a research report on Wednesday, July 31st. Northland Securities restated a buy rating and issued a $17.00 price objective on shares of Airgain in a research report on Friday, May 10th. ValuEngine downgraded Airgain from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Cowen restated an outperform rating and issued a $14.00 price objective (down from $16.00) on shares of Airgain in a research report on Friday. Finally, B. Riley upped their price objective on Airgain from $19.00 to $22.00 and gave the company a buy rating in a research report on Monday, May 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $17.25.
NASDAQ AIRG traded up $0.56 during trading hours on Friday, hitting $11.72. 271,934 shares of the company’s stock were exchanged, compared to its average volume of 77,077. The stock has a 50 day simple moving average of $13.60. Airgain has a 12-month low of $8.81 and a 12-month high of $17.25. The firm has a market capitalization of $116.71 million, a price-to-earnings ratio of -43.41 and a beta of 1.93.
Airgain (NASDAQ:AIRG) last released its earnings results on Thursday, August 8th. The technology company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.11. Airgain had a negative return on equity of 2.57% and a negative net margin of 1.83%. The firm had revenue of $14.50 million for the quarter, compared to the consensus estimate of $14.30 million. During the same period in the prior year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.
In related news, President Jacob Suen sold 3,000 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $15.00, for a total transaction of $45,000.00. Following the transaction, the president now directly 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 accessible through this link. Also, CEO James K. Sims sold 4,476 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $14.00, for a total value of $62,664.00. The disclosure for this sale can be found here. Insiders have sold 35,428 shares of company stock worth $503,485 over the last quarter. 8.40% of the stock is currently owned by company insiders.
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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