Airgain, Inc. (NASDAQ:AIRG) Short Interest Down 20.4% in August

Airgain, Inc. (NASDAQ:AIRG) saw a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 103,900 shares, a decline of 20.4% from the July 31st total of 130,600 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 43,900 shares, the days-to-cover ratio is presently 2.4 days.

Hedge Funds Weigh In On Airgain

A hedge fund recently raised its stake in Airgain stock. Renaissance Technologies LLC boosted its stake in shares of Airgain, Inc. (NASDAQ:AIRG) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,336 shares of the technology company’s stock after acquiring an additional 2,800 shares during the quarter. Renaissance Technologies LLC owned 3.27% of Airgain worth $2,128,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 52.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AIRG. StockNews.com started coverage on shares of Airgain in a research note on Saturday, June 1st. They set a “hold” rating for the company. Craig Hallum upped their price objective on shares of Airgain from $5.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, Northland Securities lifted their target price on Airgain from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th.

Airgain Price Performance

AIRG opened at $7.68 on Friday. The company has a market capitalization of $82.77 million, a P/E ratio of -6.74 and a beta of 0.74. The firm’s fifty day moving average price is $6.87 and its two-hundred day moving average price is $5.75. Airgain has a fifty-two week low of $1.63 and a fifty-two week high of $8.07.

Airgain (NASDAQ:AIRG) last issued its earnings results on Tuesday, August 6th. The technology company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $15.18 million for the quarter, compared to analyst estimates of $15.00 million. Airgain had a negative net margin of 22.34% and a negative return on equity of 26.07%. On average, equities research analysts expect that Airgain will post -0.56 EPS for the current fiscal year.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.