Analysts Expect Airgain Inc (AIRG) Will Post Quarterly Sales of $14.08 Million

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Equities analysts predict that Airgain Inc (NASDAQ:AIRG) will report sales of $14.08 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Airgain’s earnings. The lowest sales estimate is $13.90 million and the highest is $14.25 million. Airgain reported sales of $13.01 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.2%. The company is scheduled to report its next earnings report on Monday, August 6th.

According to Zacks, analysts expect that Airgain will report full year sales of $59.88 million for the current fiscal year, with estimates ranging from $59.46 million to $60.30 million. For the next fiscal year, analysts forecast that the company will report sales of $66.84 million per share, with estimates ranging from $66.68 million to $67.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Airgain.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings data on Thursday, May 3rd. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Airgain had a positive return on equity of 1.58% and a negative net margin of 0.68%. The firm had revenue of $13.30 million for the quarter, compared to analyst estimates of $12.16 million. During the same period in the prior year, the company posted $0.04 EPS. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year.

AIRG has been the topic of several research reports. B. Riley downgraded Airgain from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Friday, February 16th. 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 report on Friday, February 16th. Northland Securities reaffirmed a “buy” rating and set a $13.00 price objective on shares of Airgain in a report on Tuesday, February 27th. Finally, ValuEngine downgraded Airgain from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Airgain presently has an average rating of “Hold” and an average price target of $13.50.

Airgain traded down $0.05, hitting $8.37, during trading hours on Wednesday, MarketBeat Ratings reports. 101,200 shares of the stock were exchanged, compared to its average volume of 62,426. Airgain has a twelve month low of $7.31 and a twelve month high of $15.54. The company has a market cap of $82.10 million, a price-to-earnings ratio of 76.09 and a beta of 2.06.

In related news, VP Jacob Suen purchased 10,000 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were bought at an average price of $8.20 per share, with a total value of $82,000.00. Following the purchase, the vice president now directly owns 20,000 shares in the company, valued at approximately $164,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles A. Myers sold 18,229 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $9.00, for a total value of $164,061.00. Following the completion of the transaction, the insider now directly owns 18,229 shares in the company, valued at approximately $164,061. The disclosure for this sale can be found here. Corporate insiders own 20.40% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Lake Street Advisors Group LLC acquired a new position in shares of Airgain in the 4th quarter valued at $314,000. PenderFund Capital Management Ltd. acquired a new position in shares of Airgain in the 1st quarter valued at $365,000. Trellus Management Company LLC lifted its stake in shares of Airgain by 41.4% in the 1st quarter. Trellus Management Company LLC now owns 70,000 shares of the technology company’s stock valued at $542,000 after purchasing an additional 20,500 shares during the period. Worth Venture Partners LLC lifted its stake in shares of Airgain by 13.2% in the 1st quarter. Worth Venture Partners LLC now owns 76,969 shares of the technology company’s stock valued at $596,000 after purchasing an additional 8,987 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Airgain in the 4th quarter valued at $102,000. 30.34% of the stock is currently owned by institutional investors.

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.

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