Zacks: Analysts Expect Airgain, Inc. (AIRG) Will Post Quarterly Sales of $12.93 Million
Equities research analysts predict that Airgain, Inc. (NASDAQ:AIRG) will post $12.93 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Airgain’s earnings, with estimates ranging from $12.80 million to $13.10 million. Airgain posted sales of $9.86 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.1%. The business is expected to issue its next earnings results on Tuesday, September 19th.
According to Zacks, analysts expect that Airgain will report full-year sales of $12.93 million for the current financial year, with estimates ranging from $55.10 million to $56.80 million. For the next fiscal year, analysts expect that the business will post sales of $67.03 million per share, with estimates ranging from $65.30 million to $70.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Airgain.
Airgain (NASDAQ:AIRG) last announced its earnings results on Wednesday, May 3rd. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. Airgain had a return on equity of 24.84% and a net margin of 8.62%. The firm had revenue of $11.25 million during the quarter, compared to analyst estimates of $9.98 million. During the same quarter in the prior year, the company earned ($0.82) EPS. The business’s revenue was up 32.2% compared to the same quarter last year.
Several research firms have recently weighed in on AIRG. Zacks Investment Research raised shares of Airgain from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, June 8th. Cowen and Company reaffirmed an “outperform” rating and set a $22.00 price target on shares of Airgain in a research note on Wednesday, April 12th. Finally, Wunderlich raised shares of Airgain from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Friday, February 17th. Six investment analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and a consensus target price of $18.90.
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Shares of Airgain (AIRG) traded up 1.42% on Wednesday, hitting $14.29. The stock had a trading volume of 55,538 shares. The company has a 50-day moving average of $14.11 and a 200-day moving average of $14.97. The company has a market cap of $136.04 million and a P/E ratio of 35.81. Airgain has a 52-week low of $9.76 and a 52-week high of $29.30.
In related news, Director Thomas A. Munro sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $14.61, for a total value of $321,420.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at $58,440. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur M. Toscanini sold 28,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 11th. The stock was sold at an average price of $15.23, for a total transaction of $434,055.00. Following the completion of the transaction, the director now directly owns 87,474 shares of the company’s stock, valued at approximately $1,332,229.02. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its position in shares of Airgain by 60.9% in the first quarter. Royce & Associates LP now owns 445,023 shares of the technology company’s stock worth $6,747,000 after buying an additional 168,500 shares during the period. Hood River Capital Management LLC increased its position in shares of Airgain by 1.9% in the first quarter. Hood River Capital Management LLC now owns 356,435 shares of the technology company’s stock worth $5,404,000 after buying an additional 6,615 shares during the period. Soros Fund Management LLC increased its position in shares of Airgain by 90.0% in the first quarter. Soros Fund Management LLC now owns 316,666 shares of the technology company’s stock worth $4,801,000 after buying an additional 150,000 shares during the period. Vanguard Group Inc. increased its position in shares of Airgain by 20.8% in the first quarter. Vanguard Group Inc. now owns 221,384 shares of the technology company’s stock worth $3,356,000 after buying an additional 38,082 shares during the period. Finally, Systematic Financial Management LP acquired a new position in shares of Airgain during the fourth quarter worth approximately $2,425,000. 33.89% of the stock is owned by institutional investors.
Airgain, Inc is a provider of embedded antenna technologies used to enable wireless networking across a range of home, enterprise and industrial devices. The Company’s antennas are found in devices deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways and digital televisions.
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