Airgain Inc (NASDAQ:AIRG) Expected to Announce Quarterly Sales of $14.30 Million

Equities analysts expect Airgain Inc (NASDAQ:AIRG) to announce $14.30 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Airgain’s earnings. The lowest sales estimate is $14.29 million and the highest is $14.30 million. Airgain reported sales of $14.97 million in the same quarter last year, which indicates a negative year-over-year growth rate of 4.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Airgain will report full year sales of $62.59 million for the current fiscal year, with estimates ranging from $62.30 million to $63.06 million. For the next year, analysts forecast that the company will report sales of $72.38 million, with estimates ranging from $69.00 million to $76.34 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Airgain.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings results on Thursday, May 9th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $15.10 million for the quarter, compared to analysts’ expectations of $15.04 million. Airgain had a negative return on equity of 2.57% and a negative net margin of 1.83%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share.

Several research firms recently issued reports on AIRG. Zacks Investment Research cut shares of Airgain from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 17th. Northland Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Airgain in a report on Friday, May 10th. Finally, B. Riley increased their target price on shares of Airgain from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, May 6th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Airgain has a consensus rating of “Buy” and an average target price of $18.25.

NASDAQ AIRG opened at $13.68 on Wednesday. The stock has a market capitalization of $148.71 million, a PE ratio of -50.67 and a beta of 1.98. Airgain has a 52-week low of $8.34 and a 52-week high of $17.25. The business’s 50-day moving average price is $14.04.

In other Airgain news, President Jacob Suen sold 3,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the transaction, the president now directly owns 45,630 shares of the company’s stock, valued at $684,450. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. acquired a new stake in shares of Airgain in the first quarter valued at approximately $413,000. Kennedy Capital Management Inc. grew its position in shares of Airgain by 3.5% in the first quarter. Kennedy Capital Management Inc. now owns 191,071 shares of the technology company’s stock valued at $2,451,000 after purchasing an additional 6,537 shares during the last quarter. Alambic Investment Management L.P. grew its position in shares of Airgain by 45.3% in the first quarter. Alambic Investment Management L.P. now owns 140,322 shares of the technology company’s stock valued at $1,800,000 after purchasing an additional 43,736 shares during the last quarter. BerganKDV Wealth Management LLC acquired a new stake in shares of Airgain in the first quarter valued at approximately $128,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Airgain in the first quarter valued at approximately $345,000. Institutional investors and hedge funds own 34.89% of the company’s stock.

Airgain Company Profile

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, service providers, and value added resellers and distributors worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; OmniMax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.

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