Airgain, Inc. (AIRG) Expected to Post Earnings of $0.05 Per Share

Equities research analysts expect Airgain, Inc. (NASDAQ:AIRG) to report $0.05 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Airgain’s earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.01. Airgain reported earnings per share of $0.15 during the same quarter last year, which would indicate a negative year-over-year growth rate of 66.7%. The firm is scheduled to issue its next earnings report on Tuesday, September 19th.

According to Zacks, analysts expect that Airgain will report full-year earnings of $0.43 per share for the current fiscal year, with EPS estimates ranging from $0.37 to $0.52. For the next financial year, analysts forecast that the business will report earnings of $0.71 per share, with EPS estimates ranging from $0.63 to $0.82. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Airgain.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Airgain had a return on equity of 24.84% and a net margin of 8.62%. The company had revenue of $11.25 million during the quarter, compared to analyst estimates of $9.98 million. During the same period in the previous year, the company earned ($0.82) earnings per share. The company’s quarterly revenue was up 32.2% compared to the same quarter last year.

Several brokerages have recently commented on AIRG. Zacks Investment Research upgraded Airgain from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, June 8th. Cowen and Company reiterated an “outperform” rating and set a $22.00 target price on shares of Airgain in a research note on Wednesday, April 12th. Finally, Wunderlich upgraded Airgain from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Friday, February 17th. Six investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $18.90.

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Shares of Airgain (AIRG) traded up 1.42% on Monday, hitting $14.29. The stock had a trading volume of 55,538 shares. Airgain has a 52 week low of $9.76 and a 52 week high of $29.30. The company has a market cap of $136.04 million and a PE ratio of 35.81. The stock’s 50-day moving average price is $14.11 and its 200 day moving average price is $14.97.

In other news, Director Arthur M. Toscanini sold 28,500 shares of Airgain 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 in the company, valued at approximately $1,332,229.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas A. Munro sold 22,000 shares of Airgain stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $14.61, for a total value of $321,420.00. Following the transaction, the director now owns 4,000 shares of the company’s stock, valued at $58,440. The disclosure for this sale can be found here.

Several hedge funds and other institutional investors have recently modified their holdings of AIRG. 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 valued at $4,801,000 after buying an additional 150,000 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Airgain during the first quarter valued at about $229,000. UBS Group AG increased its stake in Airgain by 125.3% in the first quarter. UBS Group AG now owns 25,022 shares of the technology company’s stock valued at $379,000 after buying an additional 13,918 shares during the period. Geode Capital Management LLC purchased a new stake in Airgain during the first quarter valued at about $553,000. Finally, Vanguard Group Inc. increased its stake in Airgain by 20.8% in the first quarter. Vanguard Group Inc. now owns 221,384 shares of the technology company’s stock valued at $3,356,000 after buying an additional 38,082 shares during the period. Institutional investors own 33.89% of the company’s stock.

About Airgain

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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