Beyond Air, Inc. (NASDAQ:XAIR) Sees Significant Decline in Short Interest

Beyond Air, Inc. (NASDAQ:XAIR) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 810,200 shares, a decline of 23.6% from the July 15th total of 1,060,000 shares. Based on an average daily volume of 803,900 shares, the short-interest ratio is currently 1.0 days.

Beyond Air Trading Down 6.3 %

NASDAQ:XAIR traded down $0.03 during trading hours on Thursday, reaching $0.38. The company’s stock had a trading volume of 692,117 shares, compared to its average volume of 526,143. The firm has a 50-day simple moving average of $0.73 and a 200-day simple moving average of $1.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.61 and a current ratio of 3.80. Beyond Air has a 1 year low of $0.36 and a 1 year high of $3.35. The firm has a market capitalization of $17.21 million, a price-to-earnings ratio of -0.22 and a beta of -0.10.

Beyond Air (NASDAQ:XAIR) last issued its earnings results on Tuesday, August 6th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.12. Beyond Air had a negative return on equity of 203.12% and a negative net margin of 5,197.76%. The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $0.72 million. During the same period in the prior year, the business posted ($0.45) EPS. Research analysts expect that Beyond Air will post -1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

XAIR has been the subject of several recent analyst reports. BTIG Research lowered shares of Beyond Air from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 25th. Piper Sandler decreased their price target on Beyond Air from $3.50 to $1.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial decreased their target price on Beyond Air from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th.

Institutional Investors Weigh In On Beyond Air

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Keel Point LLC purchased a new position in shares of Beyond Air in the fourth quarter valued at about $30,000. Gendell Jeffrey L increased its holdings in Beyond Air by 2.8% during the 4th quarter. Gendell Jeffrey L now owns 1,120,297 shares of the company’s stock valued at $2,196,000 after purchasing an additional 30,000 shares during the period. Vanguard Group Inc. raised its position in Beyond Air by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock valued at $2,435,000 after purchasing an additional 66,224 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Beyond Air in the 2nd quarter worth approximately $47,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of Beyond Air in the 1st quarter worth approximately $1,572,000. 31.50% of the stock is currently owned by institutional investors.

About Beyond Air

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.