Airgain, Inc. (NASDAQ:AIRG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Airgain, Inc. (NASDAQ:AIRG) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.20.

Several research firms have weighed in on AIRG. Lake Street Capital began coverage on shares of Airgain in a research note on Wednesday, January 21st. They issued a “buy” rating and a $6.00 price target for the company. Royal Bank Of Canada set a $6.00 price objective on Airgain in a research note on Wednesday, January 21st. Craig Hallum lowered their target price on Airgain from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Airgain in a report on Wednesday, January 21st. Finally, Northland Securities reduced their price target on Airgain from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Monday, November 17th.

Airgain Stock Performance

AIRG stock opened at $3.99 on Thursday. Airgain has a 52 week low of $3.00 and a 52 week high of $5.85. The firm’s fifty day moving average is $4.50 and its 200 day moving average is $4.25. The firm has a market cap of $48.76 million, a P/E ratio of -7.53 and a beta of 0.93.

Insiders Place Their Bets

In other news, CEO Jacob Suen sold 6,112 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $5.01, for a total transaction of $30,621.12. Following the completion of the sale, the chief executive officer owned 287,523 shares of the company’s stock, valued at approximately $1,440,490.23. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 41,245 shares of company stock valued at $177,405 in the last ninety days. Insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC raised its holdings in Airgain by 270.1% during the 3rd quarter. Citadel Advisors LLC now owns 27,214 shares of the technology company’s stock valued at $118,000 after buying an additional 43,214 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Airgain in the 3rd quarter worth $91,000. XTX Topco Ltd bought a new stake in Airgain in the 4th quarter worth $44,000. Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Airgain in the fourth quarter valued at about $934,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Airgain by 24.2% during the third quarter. Farther Finance Advisors LLC now owns 38,500 shares of the technology company’s stock valued at $167,000 after acquiring an additional 7,500 shares during the last quarter. 52.76% of the stock is owned by hedge funds and other institutional investors.

About Airgain

Airgain, Inc (NASDAQ: AIRG) is a provider of intelligent wireless connectivity solutions designed to enhance data transmission, network performance and antenna efficiency for a range of devices. Headquartered in San Diego, California, the company develops both embedded and external antenna systems, as well as associated connectivity software, to support wireless applications across cellular, Wi-Fi, machine-to-machine (M2M) and Internet of Things (IoT) markets.

The company’s product portfolio includes modular smart antennas, parallel path phase-diversity antennas and advanced array antenna solutions that are optimized for environments such as smart homes, industrial automation, transportation and enterprise networking.