Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Declines By 19.1%

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 237,064 shares, a drop of 19.1% from the December 15th total of 292,952 shares. Based on an average daily trading volume, of 154,692 shares, the short-interest ratio is presently 1.5 days. Approximately 3.6% of the shares of the stock are short sold. Approximately 3.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 154,692 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Trading of Beyond Air

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XAIR. Alpine Global Management LLC acquired a new position in Beyond Air in the 3rd quarter valued at about $25,000. Alyeska Investment Group L.P. purchased a new stake in shares of Beyond Air during the third quarter worth about $1,753,000. Virtu Financial LLC acquired a new position in shares of Beyond Air in the third quarter valued at approximately $48,000. Osaic Holdings Inc. raised its position in shares of Beyond Air by 26.4% in the second 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 last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Beyond Air by 1.5% during the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after buying an additional 12,598 shares during the period. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Beyond Air Trading Down 1.2%

Shares of XAIR opened at $1.70 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 4.24 and a quick ratio of 3.73. Beyond Air has a 1-year low of $0.67 and a 1-year high of $10.40. The stock has a market cap of $13.62 million, a price-to-earnings ratio of -0.22 and a beta of 0.34. The firm has a 50 day simple moving average of $1.15 and a 200-day simple moving average of $2.09.

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

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.