Airgain (NASDAQ:AIRG) Cut to “Neutral” at B. Riley

B. Riley lowered shares of Airgain (NASDAQ:AIRG) from a buy rating to a neutral rating in a research note issued to investors on Friday, February 16th, MarketBeat Ratings reports. B. Riley currently has $10.00 price objective on the technology company’s stock. B. Riley also issued estimates for Airgain’s Q4 2017 earnings at $0.01 EPS, FY2017 earnings at $0.07 EPS, Q1 2018 earnings at $0.00 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.07 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.20 EPS.

A number of other brokerages also recently commented on AIRG. Northland Securities reissued a buy rating and issued a $15.00 price objective on shares of Airgain in a research report on Friday, November 10th. Zacks Investment Research raised shares of Airgain from a strong sell rating to a hold rating in a research report on Monday, January 8th.

Airgain (AIRG) traded down $0.18 during trading on Friday, reaching $8.91. 25,503 shares of the company were exchanged, compared to its average volume of 76,386. The company has a market capitalization of $87.05, a P/E ratio of 81.01 and a beta of 1.71. Airgain has a 1-year low of $7.31 and a 1-year high of $16.23. The company has a current ratio of 5.02, a quick ratio of 4.95 and a debt-to-equity ratio of 0.01.

Airgain (NASDAQ:AIRG) last released its earnings results on Thursday, February 15th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Airgain had a net margin of 2.30% and a return on equity of 4.82%. The business had revenue of $12.81 million during the quarter, compared to the consensus estimate of $12.73 million. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. analysts predict that Airgain will post -0.2 earnings per share for the current fiscal year.

In other news, CEO Charles A. Myers sold 15,000 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $10.00, for a total transaction of $150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles A. Myers sold 18,229 shares of the firm’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $9.00, for a total transaction of $164,061.00. Following the sale, the insider now owns 18,229 shares of the company’s stock, valued at approximately $164,061. The disclosure for this sale can be found here. In the last three months, insiders sold 43,660 shares of company stock valued at $410,548. Insiders own 23.40% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of AIRG. Millennium Management LLC acquired a new stake in shares of Airgain during the 4th quarter worth about $102,000. Commonwealth Equity Services Inc acquired a new stake in shares of Airgain during the 3rd quarter worth about $118,000. Lake Street Advisors Group LLC acquired a new stake in shares of Airgain during the 4th quarter worth about $314,000. Worth Venture Partners LLC lifted its stake in shares of Airgain by 50.1% during the 4th quarter. Worth Venture Partners LLC now owns 67,982 shares of the technology company’s stock worth $611,000 after buying an additional 22,690 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC acquired a new stake in shares of Airgain during the 4th quarter worth about $1,184,000. Institutional investors own 27.22% of the company’s stock.

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About Airgain

Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.

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