Beyond Air (NASDAQ:XAIR) Price Target Lowered to $3.50 at Piper Sandler

Beyond Air (NASDAQ:XAIR) had its price target cut by Piper Sandler from $7.00 to $3.50 in a research report released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on the company. Truist Financial cut their target price on Beyond Air from $10.00 to $8.00 and set a buy rating for the company in a research note on Tuesday, April 30th. BTIG Research lowered Beyond Air from a buy rating to a neutral rating in a research note on Tuesday.

Beyond Air Stock Down 7.4 %

Shares of NASDAQ XAIR opened at $0.54 on Tuesday. Beyond Air has a 12 month low of $0.54 and a 12 month high of $4.64. The company has a current ratio of 3.80, a quick ratio of 3.26 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $24.66 million, a price-to-earnings ratio of -0.30 and a beta of 0.01. The business has a 50-day moving average of $1.17 and a 200-day moving average of $1.52.

Beyond Air (NASDAQ:XAIR) last issued its earnings results on Monday, June 24th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.11. The business had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.71 million. Beyond Air had a negative return on equity of 203.12% and a negative net margin of 5,197.76%. During the same quarter in the prior year, the firm earned ($0.67) earnings per share. Sell-side analysts expect that Beyond Air will post -1.18 earnings per share for the current fiscal year.

Institutional Trading of Beyond Air

Institutional investors have recently made changes to their positions in the stock. Keel Point LLC bought a new position in shares of Beyond Air during the fourth quarter valued at approximately $30,000. Scotia Capital Inc. bought a new position in shares of Beyond Air during the third quarter valued at approximately $31,000. DAVENPORT & Co LLC bought a new position in shares of Beyond Air during the fourth quarter valued at approximately $70,000. Wealth Effects LLC raised its holdings in shares of Beyond Air by 27.6% during the fourth quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock valued at $870,000 after acquiring an additional 96,150 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Beyond Air by 1.9% during the third quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock valued at $941,000 after acquiring an additional 7,565 shares in the last quarter. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.