Airgain Inc (AIRG) Director Arthur M. Toscanini Sells 1,508 Shares

Airgain Inc (NASDAQ:AIRG) Director Arthur M. Toscanini sold 1,508 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $13.04, for a total transaction of $19,664.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AIRG traded down $0.39 on Friday, reaching $12.72. The company had a trading volume of 171,000 shares, compared to its average volume of 55,767. Airgain Inc has a fifty-two week low of $7.40 and a fifty-two week high of $14.17. The firm has a market cap of $130.52 million, a P/E ratio of -47.11 and a beta of 1.68.

Airgain (NASDAQ:AIRG) last announced its quarterly earnings results on Thursday, February 14th. The technology company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.09. Airgain had a negative net margin of 4.26% and a negative return on equity of 5.89%. The business had revenue of $16.56 million for the quarter, compared to analyst estimates of $16.44 million. During the same quarter in the prior year, the business earned $0.10 EPS. Airgain’s quarterly revenue was up 29.3% on a year-over-year basis. Analysts anticipate that Airgain Inc will post 0.13 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc grew its stake in Airgain by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 340,094 shares of the technology company’s stock valued at $4,469,000 after buying an additional 1,900 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in Airgain in the 4th quarter valued at about $75,000. Gagnon Securities LLC acquired a new position in Airgain in the 3rd quarter valued at about $117,000. Dimensional Fund Advisors LP grew its stake in Airgain by 37.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 59,605 shares of the technology company’s stock valued at $591,000 after buying an additional 16,137 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Airgain by 49.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 51,780 shares of the technology company’s stock valued at $680,000 after buying an additional 17,238 shares during the last quarter. Institutional investors and hedge funds own 35.24% of the company’s stock.

Separately, Zacks Investment Research raised shares of Airgain from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, February 15th. Five investment analysts have rated the stock with a buy rating, Airgain currently has a consensus rating of “Buy” and a consensus price target of $13.67.

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About Airgain

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, and service providers worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; omnimax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.

Further Reading: P/E Growth (PEG)

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