Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Drops By 20.0%

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 597,300 shares, a drop of 20.0% from the August 15th total of 747,000 shares. Based on an average daily volume of 815,700 shares, the days-to-cover ratio is presently 0.7 days.

Insider Buying and Selling

In related news, CEO Steven A. Lisi acquired 100,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average cost of $0.39 per share, with a total value of $39,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,722,785 shares in the company, valued at $671,886.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Beyond Air

Several institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Beyond Air during the 2nd quarter worth about $47,000. Gendell Jeffrey L lifted its stake in Beyond Air by 30.4% in the 1st quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock valued at $2,542,000 after acquiring an additional 340,774 shares in the last quarter. Vanguard Group Inc. lifted its stake in Beyond Air by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock valued at $2,435,000 after acquiring an additional 66,224 shares in the last quarter. Finally, Rosalind Advisors Inc. acquired a new position in shares of Beyond Air during the 1st quarter worth approximately $1,572,000. 31.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on XAIR. Roth Capital raised Beyond Air to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler cut their price objective on Beyond Air from $3.50 to $1.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Roth Mkm reissued a “buy” rating and set a $2.00 price objective on shares of Beyond Air in a report on Friday, August 16th. Finally, BTIG Research lowered Beyond Air from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $3.67.

Beyond Air Stock Performance

Shares of NASDAQ:XAIR opened at $0.42 on Tuesday. Beyond Air has a twelve month low of $0.36 and a twelve month high of $3.08. The firm has a market cap of $19.19 million, a PE ratio of -0.23 and a beta of -0.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.42 and a current ratio of 2.63. The business has a fifty day moving average of $0.49 and a 200-day moving average of $1.02.

Beyond Air (NASDAQ:XAIR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.12. The firm had revenue of $0.68 million during the quarter, compared to analyst estimates of $0.72 million. Beyond Air had a negative return on equity of 240.15% and a negative net margin of 3,272.46%. During the same period last year, the company earned ($0.45) earnings per share. On average, equities research analysts predict that Beyond Air will post -1.03 EPS for the current fiscal year.

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.