Beyond Air, Inc. (NASDAQ:XAIR) Sees Large Increase in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 331,830 shares, a growth of 150.9% from the June 15th total of 132,235 shares. Based on an average daily volume of 400,413 shares, the days-to-cover ratio is presently 0.8 days. Currently, 2.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on XAIR. Weiss Ratings reiterated a “sell (e+)” rating on shares of Beyond Air in a research report on Friday, April 24th. D. Boral Capital restated a “buy” rating and issued a $200.00 target price on shares of Beyond Air in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $200.00.

Beyond Air Stock Performance

XAIR stock opened at $7.49 on Tuesday. The company has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $15.22. The company has a market capitalization of $107.93 million, a P/E ratio of -1.70 and a beta of 0.22. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48. Beyond Air has a fifty-two week low of $6.69 and a fifty-two week high of $95.60.

Beyond Air (NASDAQ:XAIR) last released its earnings results on Friday, June 26th. The company reported ($15.40) EPS for the quarter, missing the consensus estimate of ($11.33) by ($4.07). Beyond Air had a negative net margin of 432.99% and a negative return on equity of 350.00%. The company had revenue of $1.91 million for the quarter, compared to analyst estimates of $2.30 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Beyond Air by 1.5% during the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after purchasing an additional 12,598 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares in the last quarter. Virtu Financial LLC bought a new position in Beyond Air during the 3rd quarter valued at $48,000. Alyeska Investment Group L.P. acquired a new position in shares of Beyond Air during the 3rd quarter valued at $1,753,000. Finally, Alpine Global Management LLC acquired a new position in shares of Beyond Air during the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

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.