Airgain (NASDAQ:AIRG) issued its quarterly earnings data on Thursday. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01), Morningstar.com reports. Airgain had a negative return on equity of 5.85% and a negative net margin of 4.26%. The firm had revenue of $15.10 million during the quarter, compared to analyst estimates of $15.04 million. During the same quarter in the prior year, the firm earned ($0.07) EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Airgain updated its Q2 guidance to ($0.01)-$0.01 EPS.
AIRG stock traded down $1.34 during trading on Friday, reaching $14.38. The stock had a trading volume of 12,110 shares, compared to its average volume of 96,095. Airgain has a 1-year low of $7.85 and a 1-year high of $17.25. The firm has a market capitalization of $155.86 million, a P/E ratio of -53.44 and a beta of 1.83.
In other news, President Jacob Suen sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the president now owns 46,121 shares in the company, valued at approximately $691,815. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur M. Toscanini sold 23,492 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $13.00, for a total transaction of $305,396.00. Following the completion of the sale, the director now owns 64,313 shares in the company, valued at approximately $836,069. The disclosure for this sale can be found here. Insiders sold a total of 50,964 shares of company stock worth $672,751 in the last quarter. 20.40% of the stock is currently owned by company insiders.
AIRG has been the topic of a number of recent analyst reports. B. Riley boosted their price objective on shares of Airgain from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Zacks Investment Research upgraded shares of Airgain from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Friday, February 15th. Finally, Northland Securities reiterated a “buy” rating and issued a $17.00 price objective on shares of Airgain in a report on Friday. 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 target price of $18.25.
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Airgain Company Profile
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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