Airgain Inc (NASDAQ:AIRG) – Equities researchers at B. Riley cut their FY2017 earnings per share estimates for Airgain in a research note issued to investors on Monday. B. Riley analyst C. Ellis now anticipates that the technology company will post earnings per share of $0.07 for the year, down from their previous estimate of $0.10. B. Riley currently has a “Buy” rating and a $10.00 target price on the stock. B. Riley also issued estimates for Airgain’s Q4 2017 earnings at $0.01 EPS, Q1 2018 earnings at $0.00 EPS, Q2 2018 earnings at $0.02 EPS, Q3 2018 earnings at $0.07 EPS, Q4 2018 earnings at $0.12 EPS and FY2018 earnings at $0.20 EPS.
A number of other brokerages have also recently commented on AIRG. Northland Securities restated a “buy” rating and set a $15.00 price objective on shares of Airgain in a research note on Friday, November 10th. Zacks Investment Research raised Airgain from a “strong sell” rating to a “hold” rating in a research report on Monday, January 8th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $15.75.
In other news, Director Arthur M. Toscanini sold 8,023 shares of Airgain stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $9.34, for a total transaction of $74,934.82. Following the sale, the director now directly owns 71,587 shares of the company’s stock, valued at $668,622.58. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles A. Myers sold 15,000 shares of Airgain stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $10.00, for a total value of $150,000.00. The disclosure for this sale can be found here. 23.40% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cortina Asset Management LLC purchased a new stake in shares of Airgain during the third quarter worth about $3,317,000. Skylands Capital LLC increased its position in shares of Airgain by 35.6% during the fourth quarter. Skylands Capital LLC now owns 276,400 shares of the technology company’s stock worth $2,485,000 after acquiring an additional 72,494 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Airgain by 14.7% during the second quarter. Vanguard Group Inc. now owns 253,971 shares of the technology company’s stock worth $3,601,000 after acquiring an additional 32,587 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Airgain by 32.6% during the third quarter. Bank of New York Mellon Corp now owns 241,690 shares of the technology company’s stock worth $2,196,000 after acquiring an additional 59,481 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its position in shares of Airgain by 40.8% during the fourth quarter. Rice Hall James & Associates LLC now owns 209,207 shares of the technology company’s stock worth $1,881,000 after acquiring an additional 60,585 shares during the last quarter. 27.97% of the stock is currently owned by institutional investors and hedge funds.
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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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