Airgain (NASDAQ:AIRG) Stock Passes Below 50-Day Moving Average – Time to Sell?

Airgain, Inc. (NASDAQ:AIRG) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.29 and traded as low as $6.99. Airgain shares last traded at $7.15, with a volume of 27,225 shares.

Analysts Set New Price Targets

AIRG has been the subject of a number of research reports. Northland Securities restated an “outperform” rating and set a $11.50 target price (up previously from $8.00) on shares of Airgain in a research report on Wednesday, November 13th. Craig Hallum lifted their target price on shares of Airgain from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Airgain Price Performance

The company has a market cap of $81.12 million, a price-to-earnings ratio of -6.27 and a beta of 0.71. The business’s 50-day simple moving average is $7.29 and its 200-day simple moving average is $7.91.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Tuesday, November 12th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The firm had revenue of $16.10 million for the quarter, compared to analysts’ expectations of $16.00 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. During the same quarter last year, the firm earned ($0.11) earnings per share. As a group, sell-side analysts forecast that Airgain, Inc. will post -0.53 EPS for the current year.

Insider Transactions at Airgain

In other news, CFO Michael Elbaz sold 6,777 shares of Airgain stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $9.09, for a total transaction of $61,602.93. Following the completion of the sale, the chief financial officer now directly owns 102,794 shares in the company, valued at $934,397.46. The trade was a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On Airgain

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in shares of Airgain during the fourth quarter worth about $73,000. Marshall Wace LLP purchased a new stake in Airgain in the fourth quarter valued at approximately $75,000. Arrowstreet Capital Limited Partnership purchased a new stake in Airgain in the fourth quarter valued at approximately $107,000. Essex Investment Management Co. LLC purchased a new stake in Airgain in the fourth quarter valued at approximately $145,000. Finally, Jane Street Group LLC purchased a new stake in Airgain in the fourth quarter valued at approximately $192,000. 52.76% of the stock is currently owned by hedge funds and other institutional investors.

Airgain Company Profile

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.