Beyond Air, Inc. (NASDAQ:XAIR) Sees Large Growth in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 72,945 shares, a growth of 164.5% from the August 15th total of 27,574 shares. Currently, 8.5% of the shares of the company are sold short. Based on an average daily volume of 899,742 shares, the short-interest ratio is currently 0.1 days.

Beyond Air Trading Up 4.2%

Shares of NASDAQ:XAIR opened at $3.20 on Friday. Beyond Air has a 12-month low of $3.06 and a 12-month high of $55.60. The company has a market capitalization of $3.07 million, a PE ratio of -0.05 and a beta of 0.13. The business has a 50 day moving average of $5.49 and a two-hundred day moving average of $9.64. The company has a current ratio of 3.31, a quick ratio of 3.12 and a debt-to-equity ratio of 7.81.

Beyond Air (NASDAQ:XAIR) last posted its earnings results on Thursday, August 13th. The company reported ($11.00) earnings per share for the quarter, missing the consensus estimate of ($10.80) by ($0.20). Beyond Air had a negative net margin of 435.71% and a negative return on equity of 440.26%. The firm had revenue of $1.77 million for the quarter, compared to analysts’ expectations of $1.93 million.

Insider Buying and Selling

In related news, CEO Robert Scott Goodman bought 34,722 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average price of $5.76 per share, with a total value of $199,998.72. Following the transaction, the chief executive officer owned 34,822 shares in the company, valued at approximately $200,574.72. This trade represents a 34,722.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Beyond Air

Several institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. grew its holdings in Beyond Air by 26.4% in the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares during the period. Virtu Financial LLC purchased a new position in Beyond Air in the 3rd quarter valued at about $48,000. Geode Capital Management LLC lifted its position in shares of Beyond Air by 57.5% in the fourth quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after acquiring an additional 24,695 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Beyond Air during the third quarter worth approximately $1,753,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on XAIR shares. Weiss Ratings restated a “sell (e+)” rating on shares of Beyond Air in a research note on Tuesday, July 21st. Lake Street Capital assumed coverage on Beyond Air in a research report on Tuesday, September 1st. They issued a “buy” rating and a $10.00 target price on the stock. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Beyond Air presently has an average rating of “Moderate Buy” and an average target price of $105.00.

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.