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

Beyond Air, Inc. (NASDAQ:XAIR) saw a significant drop in short interest during the month of March. As of March 13th, there was short interest totaling 114,054 shares, a drop of 26.1% from the February 26th total of 154,371 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 158,049 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of Beyond Air

Several hedge funds have recently made changes to their positions in the company. Alpine Global Management LLC purchased a new position in shares of Beyond Air during the 3rd quarter valued at $25,000. Osaic Holdings Inc. increased 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 worth $29,000 after acquiring an additional 34,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in Beyond Air in the 3rd quarter worth about $48,000. Geode Capital Management LLC raised its stake in 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 acquiring an additional 24,695 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in Beyond Air during the third quarter valued at about $1,753,000. 31.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

XAIR has been the topic of a number of recent analyst reports. D. Boral Capital reiterated a “buy” rating and set a $10.00 price target on shares of Beyond Air in a report on Friday. Wall Street Zen raised Beyond Air to a “sell” rating in a research report on Saturday, March 7th. Weiss Ratings reiterated a “sell (e)” rating on shares of Beyond Air in a research note on Monday, December 22nd. Finally, Rodman & Renshaw assumed coverage on shares of Beyond Air in a report on Tuesday, January 20th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.00.

Beyond Air Trading Up 4.7%

Shares of XAIR stock opened at $0.72 on Friday. The company has a 50 day moving average of $1.05 and a 200-day moving average of $1.46. The company has a quick ratio of 4.77, a current ratio of 5.12 and a debt-to-equity ratio of 2.65. Beyond Air has a 12-month low of $0.67 and a 12-month high of $5.84. The firm has a market cap of $7.61 million, a P/E ratio of -0.13 and a beta of 0.41.

Beyond Air (NASDAQ:XAIR) last posted its quarterly earnings results on Friday, February 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.31). Beyond Air had a negative return on equity of 268.82% and a negative net margin of 447.75%.The company had revenue of $2.19 million during the quarter, compared to the consensus estimate of $2.15 million. Sell-side analysts anticipate that Beyond Air will post -0.79 earnings per share for the current 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.