Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Update

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 114,054 shares, a drop of 26.1% from the February 26th total of 154,371 shares. Based on an average daily volume of 158,049 shares, the short-interest ratio is currently 0.7 days. Approximately 1.3% of the company’s shares are short sold.

Beyond Air Price Performance

XAIR opened at $0.67 on Tuesday. The company has a debt-to-equity ratio of 2.65, a quick ratio of 4.77 and a current ratio of 5.12. The stock has a market capitalization of $7.08 million, a PE ratio of -0.12 and a beta of 0.41. The stock’s 50 day moving average price is $1.03 and its 200-day moving average price is $1.44. Beyond Air has a 52-week low of $0.67 and a 52-week high of $5.84.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Friday, February 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). The business had revenue of $2.19 million during the quarter, compared to analysts’ expectations of $2.15 million. Beyond Air had a negative return on equity of 268.82% and a negative net margin of 447.75%. On average, equities research analysts predict that Beyond Air will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. D. Boral Capital reissued a “buy” rating and set a $10.00 price target on shares of Beyond Air in a research report on Friday. Rodman & Renshaw began coverage on shares of Beyond Air in a research report on Tuesday, January 20th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Finally, Wall Street Zen upgraded shares of Beyond Air to a “sell” rating in a report on Saturday, March 7th. Two 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 a consensus rating of “Hold” and an average price target of $10.00.

Institutional Investors Weigh In On Beyond Air

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in shares of Beyond Air by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after purchasing an additional 12,598 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after buying an additional 34,000 shares during the period. Virtu Financial LLC bought a new position in Beyond Air in the third quarter worth about $48,000. Alyeska Investment Group L.P. bought a new position in Beyond Air in the third quarter worth about $1,753,000. Finally, Alpine Global Management LLC purchased a new stake in Beyond Air in the third quarter worth about $25,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

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.