Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Up 927.4% in January

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,435,557 shares, a growth of 927.4% from the December 31st total of 237,064 shares. Currently, 36.6% of the shares of the company are short sold. Based on an average daily volume of 42,823,612 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 42,823,612 shares, the short-interest ratio is currently 0.1 days. Currently, 36.6% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on XAIR shares. Rodman & Renshaw began coverage on shares of Beyond Air in a research note on Tuesday, January 20th. They issued a “buy” rating on the stock. D. Boral Capital reissued a “buy” rating and issued a $11.00 price target on shares of Beyond Air in a research report on Wednesday, January 21st. Finally, Weiss Ratings reissued a “sell (e)” rating on shares of Beyond Air in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Hedge Funds Weigh In On Beyond Air

Several large investors have recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in Beyond Air in the third quarter worth about $1,753,000. Osaic Holdings Inc. lifted its position in Beyond Air by 26.4% during the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares during the period. Virtu Financial LLC bought a new position in shares of Beyond Air in the 3rd quarter valued at about $48,000. Geode Capital Management LLC grew its position in shares of Beyond Air by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock worth $144,000 after buying an additional 12,598 shares during the period. Finally, Alpine Global Management LLC bought a new stake in shares of Beyond Air during the third quarter worth approximately $25,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

Beyond Air Trading Down 5.9%

XAIR opened at $1.27 on Thursday. Beyond Air has a 1-year low of $0.67 and a 1-year high of $10.40. The stock has a market capitalization of $10.17 million, a PE ratio of -0.17 and a beta of 0.34. The company has a current ratio of 4.24, a quick ratio of 3.73 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.98.

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

Beyond Air Company Profile

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.