Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Increases By 927.4%

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,435,557 shares, a growth of 927.4% from the December 31st total of 237,064 shares. Based on an average daily trading volume, of 42,823,612 shares, the short-interest ratio is currently 0.1 days. Approximately 36.6% of the company’s stock are short sold. Approximately 36.6% of the company’s stock are short sold. Based on an average daily trading volume, of 42,823,612 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on XAIR. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. D. Boral Capital restated a “buy” rating and issued a $11.00 price target on shares of Beyond Air in a research note on Wednesday, January 21st. Finally, Rodman & Renshaw assumed coverage on shares of Beyond Air in a report on Tuesday, January 20th. They set a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Institutional Trading of Beyond Air

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Beyond Air by 1.5% in the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after acquiring an additional 12,598 shares in the last quarter. Osaic Holdings Inc. increased 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 worth $29,000 after buying an additional 34,000 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Beyond Air during the 3rd quarter worth $48,000. Alyeska Investment Group L.P. bought a new position in Beyond Air during the third quarter valued at about $1,753,000. Finally, Alpine Global Management LLC bought a new position in shares of Beyond Air in the 3rd quarter valued at approximately $25,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

Beyond Air Stock Down 6.8%

NASDAQ XAIR traded down $0.10 during trading hours on Tuesday, hitting $1.36. The company had a trading volume of 649,338 shares, compared to its average volume of 22,436,468. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.24 and a quick ratio of 3.73. The business has a fifty day simple moving average of $1.18 and a 200-day simple moving average of $2.00. Beyond Air has a fifty-two week low of $0.67 and a fifty-two week high of $10.40.

Beyond Air (NASDAQ:XAIR) last announced its earnings results on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.15). The company had revenue of $1.82 million during the quarter, compared to the consensus estimate of $2.54 million. Beyond Air had a negative net margin of 632.51% and a negative return on equity of 261.08%. Research analysts predict that Beyond Air will post -0.79 earnings per share for the current year.

Beyond Air Company Profile

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.