Airgain (NASDAQ:AIRG) Shares Cross Below 50-Day Moving Average – Here’s Why

Airgain, Inc. (NASDAQ:AIRG)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.29 and traded as low as $6.99. Airgain shares last traded at $7.15, with a volume of 27,225 shares traded.

Wall Street Analyst Weigh In

AIRG has been the topic of several research reports. Northland Securities reissued an “outperform” rating and set a $11.50 price objective (up from $8.00) on shares of Airgain in a research report on Wednesday, November 13th. Craig Hallum raised their price objective on shares of Airgain from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Airgain Stock Performance

The company has a market capitalization of $81.12 million, a PE ratio of -6.27 and a beta of 0.71. The company’s 50-day simple moving average is $7.29 and its 200-day simple moving average is $7.91.

Airgain (NASDAQ:AIRG) last issued its earnings results on Tuesday, November 12th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The firm had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $16.00 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. During the same period in the previous year, the firm earned ($0.11) EPS. Analysts expect that Airgain, Inc. will post -0.53 EPS for the current year.

Insider Activity

In other news, CFO Michael Elbaz sold 6,777 shares of Airgain stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $9.09, for a total value of $61,602.93. Following the sale, the chief financial officer now owns 102,794 shares of the company’s stock, valued at $934,397.46. The trade was a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.10% of the company’s stock.

Institutional Trading of Airgain

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its stake in shares of Airgain by 10.8% in the fourth quarter. Renaissance Technologies LLC now owns 404,036 shares of the technology company’s stock valued at $2,852,000 after purchasing an additional 39,436 shares during the period. Geode Capital Management LLC lifted its stake in shares of Airgain by 23.2% in the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after purchasing an additional 20,970 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Airgain by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 105,954 shares of the technology company’s stock valued at $748,000 after purchasing an additional 12,000 shares during the period. US Bancorp DE lifted its stake in shares of Airgain by 3.7% in the third quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock valued at $502,000 after purchasing an additional 2,400 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Airgain by 69.4% in the fourth quarter. Northern Trust Corp now owns 64,861 shares of the technology company’s stock valued at $458,000 after purchasing an additional 26,573 shares during the period. Institutional investors and hedge funds own 52.76% of the company’s stock.

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.