$12.93 Million in Sales Expected for Airgain, Inc. (NASDAQ:AIRG) This Quarter
Wall Street analysts predict that Airgain, Inc. (NASDAQ:AIRG) will post sales of $12.93 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Airgain’s earnings, with the highest sales estimate coming in at $13.10 million and the lowest estimate coming in at $12.80 million. Airgain posted sales of $9.86 million during the same quarter last year, which suggests a positive year over year growth rate of 31.1%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, September 19th.
According to Zacks, analysts expect that Airgain will report full year sales of $12.93 million for the current year, with estimates ranging from $55.10 million to $56.80 million. For the next year, analysts expect that the firm will post sales of $67.03 million per share, with estimates ranging from $65.30 million to $70.30 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Airgain.
Airgain (NASDAQ:AIRG) last issued its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The company had revenue of $11.25 million during the quarter, compared to analysts’ expectations of $9.98 million. Airgain had a return on equity of 24.84% and a net margin of 8.62%. The business’s revenue was up 32.2% on a year-over-year basis. During the same period last year, the business earned ($0.82) earnings per share.
AIRG has been the topic of several analyst reports. Zacks Investment Research lowered Airgain from a “buy” rating to a “hold” rating in a report on Tuesday, March 14th. Cowen and Company reissued an “outperform” rating and set a $22.00 target price on shares of Airgain in a report on Wednesday, April 12th. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $18.90.
In related news, Director Thomas A. Munro sold 22,000 shares of the company’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $14.61, for a total transaction of $321,420.00. Following the completion of the sale, the director now directly owns 4,000 shares in the company, valued at approximately $58,440. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Arthur M. Toscanini sold 28,500 shares of the company’s stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $15.23, for a total value of $434,055.00. Following the sale, the director now owns 87,474 shares of the company’s stock, valued at $1,332,229.02. The disclosure for this sale can be found here. 23.40% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Airgain during the fourth quarter valued at $1,442,000. Tudor Investment Corp Et Al acquired a new stake in shares of Airgain during the fourth quarter valued at $144,000. Worth Venture Partners LLC acquired a new stake in shares of Airgain during the first quarter valued at $605,000. Soros Fund Management LLC increased its stake in shares of Airgain by 90.0% in the first quarter. Soros Fund Management LLC now owns 316,666 shares of the technology company’s stock valued at $4,801,000 after buying an additional 150,000 shares in the last quarter. Finally, Sigma Planning Corp increased its stake in shares of Airgain by 41.9% in the first quarter. Sigma Planning Corp now owns 34,697 shares of the technology company’s stock valued at $526,000 after buying an additional 10,250 shares in the last quarter. Institutional investors and hedge funds own 33.89% of the company’s stock.
Airgain (NASDAQ AIRG) opened at 13.98 on Friday. Airgain has a one year low of $7.36 and a one year high of $29.30. The firm’s 50 day moving average price is $14.11 and its 200-day moving average price is $14.68. The company has a market capitalization of $133.09 million and a PE ratio of 35.04.
Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.
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