Airgain (NASDAQ:AIRG) Updates Q2 2022 Earnings Guidance

Airgain (NASDAQ:AIRGGet Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of $0.01-$0.01 for the period, compared to the consensus EPS estimate of -$0.05. The company issued revenue guidance of $18.50 million-$20.00 million, compared to the consensus revenue estimate of $18.88 million.

Several analysts have weighed in on the stock. Cowen dropped their price objective on shares of Airgain from $13.00 to $11.00 in a research note on Friday, February 25th. Zacks Investment Research upgraded shares of Airgain from a sell rating to a hold rating in a research report on Tuesday, January 11th. StockNews.com started coverage on shares of Airgain in a report on Thursday, March 31st. They set a sell rating on the stock. Finally, B. Riley downgraded shares of Airgain from a buy rating to a neutral rating and lowered their target price for the stock from $20.00 to $10.00 in a research note on Tuesday, February 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Airgain currently has an average rating of Hold and an average price target of $15.50.

NASDAQ AIRG traded up $0.25 during trading on Tuesday, reaching $9.20. The company’s stock had a trading volume of 54,560 shares, compared to its average volume of 70,573. The stock has a market capitalization of $93.74 million, a PE ratio of -9.20 and a beta of 0.95. The firm has a fifty day moving average of $8.12 and a 200 day moving average of $9.40. Airgain has a one year low of $6.79 and a one year high of $23.60.

Airgain (NASDAQ:AIRGGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The technology company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.02. The firm had revenue of $14.14 million during the quarter, compared to the consensus estimate of $14.00 million. Airgain had a negative return on equity of 12.80% and a negative net margin of 15.69%. During the same quarter in the previous year, the company posted ($0.11) earnings per share. As a group, equities analysts forecast that Airgain will post -0.57 earnings per share for the current year.

In other Airgain news, Director James K. Sims purchased 4,612 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were bought at an average price of $7.60 per share, with a total value of $35,051.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James K. Sims bought 5,000 shares of the stock in a transaction dated Tuesday, March 1st. The stock was purchased at an average price of $9.08 per share, with a total value of $45,400.00. The disclosure for this purchase can be found here. 11.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Holdings Inc. boosted its stake in shares of Airgain by 30.7% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,916 shares of the technology company’s stock worth $38,000 after acquiring an additional 1,154 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Airgain by 64.5% during the second quarter. Wells Fargo & Company MN now owns 5,865 shares of the technology company’s stock worth $121,000 after buying an additional 2,300 shares during the last quarter. Finally, Susquehanna International Group LLP boosted its stake in Airgain by 90.0% during the fourth quarter. Susquehanna International Group LLP now owns 73,240 shares of the technology company’s stock worth $779,000 after buying an additional 34,687 shares during the last quarter. 63.63% of the stock is currently owned by hedge funds and other institutional investors.

About Airgain (Get Rating)

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, vertical markets, chipset vendors, service providers, value-added resellers and software developers worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; SmartMax embedded antennas; and MaxBeam carrier class antennas, as well as automotive, fleet, public safety, and machine-to-machine antennas under the Antenna Plus brand.

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