Beyond Air, Inc. (NASDAQ:XAIR) Short Interest Update

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a large decrease in short interest in January. As of January 30th, there was short interest totaling 531,030 shares, a decrease of 78.2% from the January 15th total of 2,435,557 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,558,559 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 1,558,559 shares, the short-interest ratio is presently 0.3 days. Currently, 8.0% of the shares of the stock are sold short.

Beyond Air Stock Performance

Shares of XAIR stock opened at $1.04 on Thursday. The company’s fifty day moving average price is $1.15 and its 200-day moving average price is $1.83. Beyond Air has a 12 month low of $0.67 and a 12 month high of $8.12. 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 stock has a market cap of $8.33 million, a PE ratio of -0.14 and a beta of 0.39.

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

Hedge Funds Weigh In On Beyond Air

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alyeska Investment Group L.P. purchased a new stake in Beyond Air during the 3rd quarter valued at about $1,753,000. Osaic Holdings Inc. raised its stake in 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Beyond Air by 57.5% in the 4th quarter. Geode Capital Management LLC now owns 67,678 shares of the company’s stock valued at $49,000 after purchasing an additional 24,695 shares during the period. Virtu Financial LLC purchased a new position in Beyond Air in the 3rd quarter valued at approximately $48,000. Finally, Alpine Global Management LLC acquired a new position in shares of Beyond Air in the third quarter worth $25,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Analysts Set New Price Targets

XAIR has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (e)” rating on shares of Beyond Air in a report on Monday, December 22nd. D. Boral Capital reiterated a “buy” rating and set a $11.00 price target on shares of Beyond Air in a research report on Wednesday, January 21st. Finally, Rodman & Renshaw started coverage on Beyond Air in a research note on Tuesday, January 20th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.