Beyond Air (NASDAQ:XAIR) Price Target Cut to $8.00

Beyond Air (NASDAQ:XAIR) had its price objective lowered by equities research analysts at Truist Financial from $10.00 to $8.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Beyond Air Price Performance

Shares of XAIR traded up $0.02 during mid-day trading on Tuesday, hitting $1.09. 315,698 shares of the stock were exchanged, compared to its average volume of 310,840. The company has a debt-to-equity ratio of 0.61, a quick ratio of 3.26 and a current ratio of 3.39. The company has a market cap of $39.28 million, a PE ratio of -0.52 and a beta of -0.18. Beyond Air has a 52-week low of $1.06 and a 52-week high of $6.36. The firm has a 50-day moving average of $1.60 and a two-hundred day moving average of $1.74.

Beyond Air (NASDAQ:XAIR) last issued its quarterly earnings data on Monday, February 12th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.11. The company had revenue of $0.39 million for the quarter, compared to the consensus estimate of $0.49 million. During the same period in the previous year, the firm earned ($0.43) earnings per share. On average, equities analysts predict that Beyond Air will post -1.93 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rosalind Advisors Inc. purchased a new position in shares of Beyond Air during the first quarter valued at approximately $1,572,000. Gendell Jeffrey L lifted its stake in shares of Beyond Air by 2.8% during the 4th quarter. Gendell Jeffrey L now owns 1,120,297 shares of the company’s stock worth $2,196,000 after acquiring an additional 30,000 shares during the last quarter. Keel Point LLC purchased a new position in Beyond Air during the 4th quarter valued at $30,000. Wealth Effects LLC grew its position in Beyond Air by 27.6% in the 4th quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock valued at $870,000 after acquiring an additional 96,150 shares during the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in Beyond Air in the fourth quarter worth $70,000. Institutional investors own 31.50% of the company’s stock.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.