Beyond Air, Inc. (NASDAQ:XAIR) Sees Significant Decline in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) saw a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 292,952 shares, a decrease of 20.6% from the November 30th total of 368,768 shares. Currently, 4.5% of the shares of the stock are sold short. Based on an average trading volume of 119,012 shares, the short-interest ratio is currently 2.5 days. Based on an average trading volume of 119,012 shares, the short-interest ratio is currently 2.5 days. Currently, 4.5% of the shares of the stock are sold short.

Beyond Air Stock Performance

NASDAQ:XAIR opened at $0.70 on Tuesday. The company’s 50-day moving average is $1.40 and its two-hundred day moving average is $2.36. Beyond Air has a 1-year low of $0.67 and a 1-year high of $10.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.24 and a quick ratio of 3.73. The firm has a market capitalization of $5.64 million, a price-to-earnings ratio of -0.09 and a beta of 0.31.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings results on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.15). The firm had revenue of $1.82 million for the quarter, compared to analyst estimates of $2.54 million. Beyond Air had a negative return on equity of 261.08% and a negative net margin of 632.51%. Analysts forecast that Beyond Air will post -0.79 EPS for the current year.

Institutional Investors Weigh In On Beyond Air

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XAIR. Alpine Global Management LLC acquired a new position in shares of Beyond Air in the 3rd quarter valued at $25,000. Virtu Financial LLC purchased a new stake in Beyond Air in the 3rd quarter valued at about $48,000. Osaic Holdings Inc. raised its holdings in Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after buying an additional 34,000 shares during the period. Wealth Effects LLC lifted its position in Beyond Air by 42.5% in the second quarter. Wealth Effects LLC now owns 278,100 shares of the company’s stock valued at $48,000 after buying an additional 83,000 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Beyond Air during the third quarter worth about $1,753,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on XAIR shares. D. Boral Capital restated a “buy” rating and issued a $11.00 price target on shares of Beyond Air in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Beyond Air presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

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.