Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Grows By 164.5%

Beyond Air, Inc. (NASDAQ:XAIR) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 72,945 shares, an increase of 164.5% from the August 15th total of 27,574 shares. Based on an average trading volume of 899,742 shares, the short-interest ratio is currently 0.1 days. Approximately 8.5% of the company’s stock are sold short.

Wall Street Analyst Weigh In

XAIR has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Beyond Air in a research report on Tuesday, July 21st. Lake Street Capital began coverage on shares of Beyond Air in a report on Tuesday, September 1st. They set a “buy” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Beyond Air has an average rating of “Moderate Buy” and an average target price of $105.00.

Insider Transactions at Beyond Air

In other Beyond Air news, CEO Robert Scott Goodman acquired 34,722 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $5.76 per share, with a total value of $199,998.72. Following the transaction, the chief executive officer owned 34,822 shares of the company’s stock, valued at $200,574.72. The trade was a 34,722.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 9.99% of the company’s stock.

Institutional Trading of Beyond Air

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 worth $144,000 after acquiring an additional 12,598 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Beyond Air in the 3rd quarter worth $48,000. Finally, Alyeska Investment Group L.P. bought a new position in Beyond Air in the 3rd quarter worth $1,753,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

Beyond Air Stock Performance

XAIR stock traded up $0.03 during trading on Monday, reaching $3.23. The stock had a trading volume of 18,227 shares, compared to its average volume of 209,713. Beyond Air has a 52 week low of $3.06 and a 52 week high of $55.60. The stock’s 50 day moving average is $5.49 and its two-hundred day moving average is $9.57. The company has a current ratio of 3.31, a quick ratio of 3.12 and a debt-to-equity ratio of 7.81. The firm has a market cap of $3.10 million, a PE ratio of -0.05 and a beta of 0.13.

Beyond Air (NASDAQ:XAIR) last released its quarterly earnings results on Thursday, August 13th. The company reported ($11.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.80) by ($0.20). Beyond Air had a negative net margin of 435.71% and a negative return on equity of 440.26%. The firm had revenue of $1.77 million for the quarter, compared to the consensus estimate of $1.93 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.