Zacks: Analysts Anticipate Airgain, Inc. (AIRG) Will Announce Quarterly Sales of $13.55 Million
Analysts expect Airgain, Inc. (NASDAQ:AIRG) to announce $13.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Airgain’s earnings, with the highest sales estimate coming in at $15.00 million and the lowest estimate coming in at $12.10 million. Airgain reported sales of $12.44 million in the same quarter last year, which indicates a positive year-over-year growth rate of 8.9%. The company is scheduled to report its next earnings report on Thursday, November 9th.
According to Zacks, analysts expect that Airgain will report full year sales of $13.55 million for the current fiscal year. For the next financial year, analysts anticipate that the firm will report sales of $58.40 million per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Airgain.
A number of research analysts have commented on AIRG shares. Zacks Investment Research upgraded shares of Airgain from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, June 8th. Cowen and Company reiterated a “buy” rating and set a $19.00 price target on shares of Airgain in a research report on Thursday, August 10th. Finally, B. Riley restated a “buy” rating and issued a $12.50 target price on shares of Airgain in a report on Friday, September 8th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $16.80.
In other news, Director Francis X. Egan bought 10,276 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were purchased at an average price of $8.99 per share, for a total transaction of $92,381.24. Following the completion of the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $449,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 23.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in shares of Airgain by 723.4% in the first quarter. Wells Fargo & Company MN now owns 12,351 shares of the technology company’s stock worth $187,000 after purchasing an additional 10,851 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Airgain in the first quarter worth approximately $229,000. Menta Capital LLC bought a new position in shares of Airgain in the second quarter worth approximately $251,000. Blair William & Co. IL bought a new position in shares of Airgain in the first quarter worth approximately $264,000. Finally, UBS Group AG grew its holdings in shares of Airgain by 125.3% in the first quarter. UBS Group AG now owns 25,022 shares of the technology company’s stock worth $379,000 after purchasing an additional 13,918 shares during the last quarter. Hedge funds and other institutional investors own 35.63% of the company’s stock.
Shares of Airgain (AIRG) opened at 8.94 on Tuesday. Airgain has a 12-month low of $8.72 and a 12-month high of $29.30. The firm’s 50-day moving average is $9.14 and its 200-day moving average is $9.14. The company has a market capitalization of $85.32 million and a price-to-earnings ratio of 35.06.
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Airgain Company Profile
Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.
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