Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Down 78.2% in January

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 531,030 shares, a decline of 78.2% from the January 15th total of 2,435,557 shares. Approximately 8.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,558,559 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 1,558,559 shares, the short-interest ratio is presently 0.3 days. Approximately 8.0% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts have recently commented on XAIR shares. Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Rodman & Renshaw began coverage on Beyond Air in a report on Tuesday, January 20th. They issued a “buy” rating for the company. Finally, D. Boral Capital restated a “buy” rating and set a $11.00 price objective on shares of Beyond Air in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $11.00.

Beyond Air Stock Down 6.9%

Shares of NASDAQ:XAIR traded down $0.08 during trading on Tuesday, hitting $1.08. The company’s stock had a trading volume of 221,945 shares, compared to its average volume of 22,542,110. Beyond Air has a fifty-two week low of $0.67 and a fifty-two week high of $10.40. The stock’s 50-day moving average price is $1.15 and its two-hundred day moving average price is $1.84. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.73 and a current ratio of 4.24. The company has a market capitalization of $8.65 million, a PE ratio of -0.14 and a beta of 0.39.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.15). The business had revenue of $1.82 million for the quarter, compared to analysts’ expectations of $2.54 million. Beyond Air had a negative return on equity of 261.08% and a negative net margin of 632.51%. As a group, sell-side analysts expect that Beyond Air will post -0.79 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in XAIR. Alpine Global Management LLC bought a new position in shares of Beyond Air during the third quarter valued at approximately $25,000. Osaic Holdings Inc. lifted its holdings in shares of Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares during the last quarter. Virtu Financial LLC acquired a new position in Beyond Air during the 3rd quarter valued at approximately $48,000. Geode Capital Management LLC grew its stake in Beyond Air by 57.5% during the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock worth $49,000 after buying an additional 24,695 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Beyond Air in the third quarter worth $1,753,000. 31.50% of the stock is owned by institutional investors and hedge funds.

About Beyond Air

Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.

The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.