Airgain (NASDAQ:AIRG) Trading Down 3.4% – Here’s Why

Airgain, Inc. (NASDAQ:AIRG)’s share price traded down 3.4% during trading on Monday . The stock traded as low as $6.70 and last traded at $6.76. 25,124 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 20,141 shares. The stock had previously closed at $7.00.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Northland Securities reiterated an “outperform” rating and set a $11.50 price target (up previously from $8.00) on shares of Airgain in a report on Wednesday, November 13th. Craig Hallum upped their target price on Airgain from $8.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Airgain Stock Down 3.4 %

The stock has a market cap of $76.69 million, a P/E ratio of -5.93 and a beta of 0.72. The firm’s 50-day moving average is $8.51 and its two-hundred day moving average is $7.81.

Insider Transactions at Airgain

In other news, CFO Michael Elbaz sold 6,777 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $9.09, for a total transaction of $61,602.93. Following the completion of the sale, the chief financial officer now owns 102,794 shares in the company, valued at approximately $934,397.46. This represents a 6.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Airgain

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its holdings in Airgain by 195.5% during the third quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock valued at $274,000 after purchasing an additional 24,000 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Airgain by 3.7% during the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock worth $502,000 after buying an additional 2,400 shares during the period. Geode Capital Management LLC grew its stake in Airgain by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after buying an additional 20,970 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Airgain by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock worth $2,128,000 after acquiring an additional 2,800 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Airgain by 30.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 558,309 shares of the technology company’s stock worth $3,372,000 after acquiring an additional 131,675 shares during the last quarter. 52.76% of the stock is currently owned by institutional investors and hedge funds.

About Airgain

Airgain, Inc provides wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems worldwide. The company's products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; profile ceramic embedded antenna; ultra embedded antennas; and SmartMax embedded antennas.