Airgain (AIRG) Price Target Raised to $19.00

Airgain (NASDAQ:AIRG) had its price target increased by equities research analysts at B. Riley from $17.00 to $19.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a “buy” rating on the technology company’s stock. B. Riley’s price target would suggest a potential upside of 46.27% from the stock’s current price. B. Riley also issued estimates for Airgain’s FY2021 earnings at $0.39 EPS.

Separately, Zacks Investment Research raised Airgain from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Friday, February 15th. Five analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $15.67.

AIRG opened at $12.99 on Monday. The firm has a market cap of $128.73 million, a PE ratio of -48.11 and a beta of 1.68. Airgain has a 52-week low of $7.40 and a 52-week high of $14.17.

Airgain (NASDAQ:AIRG) last released its quarterly earnings data on Thursday, February 14th. The technology company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.09. The business had revenue of $16.56 million for the quarter, compared to analyst estimates of $16.44 million. Airgain had a negative return on equity of 5.89% and a negative net margin of 4.26%. Airgain’s revenue was up 29.3% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. Research analysts anticipate that Airgain will post 0.13 earnings per share for the current year.

In other Airgain news, President Jacob Suen sold 10,000 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $12.73, for a total value of $127,300.00. Following the completion of the transaction, the president now directly owns 45,570 shares in the company, valued at $580,106.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Gen3 Capital Partners, Llc sold 4,964 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $12.77, for a total value of $63,390.28. The disclosure for this sale can be found here. Insiders sold 24,472 shares of company stock worth $322,355 over the last ninety days. 20.40% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in Airgain by 189.0% in the third quarter. Dimensional Fund Advisors LP now owns 43,468 shares of the technology company’s stock valued at $571,000 after purchasing an additional 28,427 shares during the last quarter. Vanguard Group Inc raised its position in Airgain by 0.6% in the third quarter. Vanguard Group Inc now owns 340,094 shares of the technology company’s stock valued at $4,469,000 after purchasing an additional 1,900 shares during the last quarter. Worth Venture Partners LLC raised its position in Airgain by 24.7% in the third quarter. Worth Venture Partners LLC now owns 106,815 shares of the technology company’s stock valued at $1,404,000 after purchasing an additional 21,171 shares during the last quarter. JPMorgan Chase & Co. raised its position in Airgain by 49.9% in the third quarter. JPMorgan Chase & Co. now owns 51,780 shares of the technology company’s stock valued at $680,000 after purchasing an additional 17,238 shares during the last quarter. Finally, Alambic Investment Management L.P. bought a new position in Airgain in the fourth quarter valued at about $957,000. Hedge funds and other institutional investors own 35.22% of the company’s stock.

About Airgain

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, and service providers 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.

See Also: Liquidity

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