Airgain (NASDAQ:AIRG) Share Price Passes Below Fifty Day Moving Average – Time to Sell?

Airgain, Inc. (NASDAQ:AIRG) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $7.92 and traded as low as $7.44. Airgain shares last traded at $7.95, with a volume of 32,668 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Craig Hallum lifted their price objective on shares of Airgain from $8.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Northland Securities restated an “outperform” rating and set a $11.50 target price (up from $8.00) on shares of Airgain in a research report on Wednesday, November 13th.

Airgain Stock Performance

The stock has a market cap of $90.19 million, a price-to-earnings ratio of -6.97 and a beta of 0.72. The business’s 50 day moving average is $7.92 and its 200-day moving average is $7.86.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.08). Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. The company had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $16.00 million. During the same period in the previous year, the business earned ($0.11) earnings per share. Sell-side analysts anticipate that Airgain, Inc. will post -0.5 EPS for the current fiscal year.

Insider Buying and Selling at Airgain

In other news, CFO Michael Elbaz sold 6,777 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $9.09, for a total transaction of $61,602.93. Following the completion of the sale, the chief financial officer now owns 102,794 shares of the company’s stock, valued at $934,397.46. This represents a 6.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Airgain

A number of institutional investors and hedge funds have recently bought and sold shares of AIRG. Farther Finance Advisors LLC lifted its stake in Airgain by 195.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock worth $274,000 after purchasing an additional 24,000 shares in the last quarter. US Bancorp DE lifted its position in Airgain by 3.7% during the third quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after buying an additional 2,400 shares in the last quarter. Geode Capital Management LLC boosted its stake in Airgain by 23.2% during the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after buying an additional 20,970 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Airgain by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock valued at $2,128,000 after buying an additional 2,800 shares in the last quarter. 52.76% of the stock is currently owned by institutional investors and hedge funds.

Airgain Company Profile

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.