Beyond Air (NASDAQ:XAIR) Stock Price Down 2.1% – Here’s What Happened

Shares of Beyond Air, Inc. (NASDAQ:XAIR) dropped 2.1% during trading on Thursday. The company traded as low as $2.30 and last traded at $2.31. Approximately 16,525 shares were traded during mid-day trading, a decline of 50% from the average session volume of 32,752 shares. The stock had previously closed at $2.36.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings lowered Beyond Air from a “sell (e+)” rating to a “sell (e)” rating in a research note on Wednesday, October 14th. Lake Street Capital began coverage on Beyond Air in a research report on Tuesday, September 1st. They set a “buy” rating and a $10.00 target price for the company. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $105.00.

Beyond Air Trading Down 2.1%

The company’s fifty day simple moving average is $3.10 and its two-hundred day simple moving average is $10.85. The company has a quick ratio of 3.12, a current ratio of 3.31 and a debt-to-equity ratio of 7.81. The company has a market capitalization of $2.22 million, a price-to-earnings ratio of -0.03 and a beta of 0.21.

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

About Beyond Air

Beyond Air, Inc is a medical technology and biopharmaceutical company focused on developing nitric oxide (NO) therapies and delivery systems for respiratory diseases and other serious medical conditions. Its platform is designed to generate NO from ambient air at the point of care, potentially reducing reliance on traditional high-pressure gas cylinders.

The company’s primary product family is LungFit, a series of compact NO delivery systems intended for use in hospital and clinical settings.