Beyond Air (NASDAQ:XAIR) Upgraded at Roth Capital

Roth Capital upgraded shares of Beyond Air (NASDAQ:XAIR) to a strong-buy rating in a report published on Friday morning, Zacks.com reports. Roth Capital also issued estimates for Beyond Air’s FY2027 earnings at ($0.15) EPS and FY2028 earnings at $0.52 EPS.

XAIR has been the subject of several other research reports. Truist Financial decreased their price objective on Beyond Air from $10.00 to $8.00 and set a buy rating for the company in a report on Tuesday, April 30th. Piper Sandler lowered their price objective on shares of Beyond Air from $3.50 to $1.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. BTIG Research downgraded Beyond Air from a buy rating to a neutral rating in a research note on Tuesday, June 25th. Finally, Roth Mkm reiterated a buy rating and set a $2.00 target price on shares of Beyond Air in a research note on Friday. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $3.67.

Beyond Air Stock Up 26.1 %

XAIR opened at $0.47 on Friday. The firm has a market cap of $21.71 million, a price-to-earnings ratio of -0.26 and a beta of -0.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.61 and a current ratio of 3.80. The firm’s 50-day simple moving average is $0.70 and its 200-day simple moving average is $1.23. Beyond Air has a twelve month low of $0.36 and a twelve month high of $3.35.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.12. The business had revenue of $0.68 million for the quarter, compared to analyst estimates of $0.72 million. Beyond Air had a negative net margin of 5,197.76% and a negative return on equity of 203.12%. During the same period in the prior year, the business posted ($0.45) earnings per share. Equities research analysts anticipate that Beyond Air will post -1.01 EPS for the current fiscal year.

Insider Activity at Beyond Air

In other Beyond Air news, CEO Steven A. Lisi purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $0.39 per share, for a total transaction of $39,000.00. Following the purchase, the chief executive officer now owns 1,722,785 shares of the company’s stock, valued at approximately $671,886.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 19.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Beyond Air

A number of hedge funds and other institutional investors have recently made changes to their positions in XAIR. Point72 Asia Singapore Pte. Ltd. bought a new position in Beyond Air in the 2nd quarter worth approximately $47,000. Rosalind Advisors Inc. purchased a new stake in Beyond Air during the 1st quarter worth about $1,572,000. Gendell Jeffrey L boosted its stake in Beyond Air by 2.8% in the 4th quarter. Gendell Jeffrey L now owns 1,120,297 shares of the company’s stock worth $2,196,000 after purchasing an additional 30,000 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Beyond Air by 5.0% in the first quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock worth $2,435,000 after buying an additional 66,224 shares in the last quarter. 31.50% of the stock is owned by hedge funds and other institutional investors.

About Beyond Air

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.