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

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 65,992 shares, a drop of 41.4% from the March 31st total of 112,569 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily volume of 479,835 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

XAIR has been the subject of several recent analyst reports. Rodman & Renshaw initiated coverage on shares of Beyond Air in a report on Tuesday, January 20th. They set a “buy” rating for the company. D. Boral Capital reaffirmed a “buy” rating and set a $10.00 price objective on shares of Beyond Air in a report on Friday, March 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a report on Friday. Finally, Wall Street Zen raised 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.00.

Hedge Funds Weigh In On Beyond Air

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

Beyond Air Price Performance

Shares of XAIR stock opened at $0.49 on Tuesday. Beyond Air has a 52-week low of $0.43 and a 52-week high of $5.84. The stock has a market cap of $5.13 million, a PE ratio of -0.09 and a beta of 0.53. 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 firm’s 50 day moving average price is $0.77 and its two-hundred day moving average price is $1.19.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings data on Friday, February 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative net margin of 447.75% and a negative return on equity of 268.82%. The business had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.15 million.

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.