Airgain (NASDAQ:AIRG) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Airgain, Inc. (NASDAQ:AIRG) shares passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $7.29 and traded as low as $6.99. Airgain shares last traded at $7.15, with a volume of 27,225 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIRG. Northland Securities reaffirmed an “outperform” rating and issued a $11.50 price target (up from $8.00) on shares of Airgain in a research note on Wednesday, November 13th. Craig Hallum upped their price target on Airgain from $8.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Airgain Price Performance

The firm has a 50 day moving average price of $7.26 and a 200 day moving average price of $7.91.

Insider Transactions at Airgain

In other Airgain news, CFO Michael Elbaz sold 6,777 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 102,794 shares in the company, valued at $934,397.46. This trade represents a 6.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On Airgain

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in shares of Airgain by 10.8% in the 4th quarter. Renaissance Technologies LLC now owns 404,036 shares of the technology company’s stock valued at $2,852,000 after purchasing an additional 39,436 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Airgain by 23.2% in the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock worth $841,000 after buying an additional 20,970 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Airgain by 12.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 105,954 shares of the technology company’s stock worth $748,000 after buying an additional 12,000 shares during the period. US Bancorp DE lifted its holdings in shares of Airgain by 3.7% in 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. Finally, Northern Trust Corp lifted its stake in shares of Airgain by 69.4% during the 4th quarter. Northern Trust Corp now owns 64,861 shares of the technology company’s stock worth $458,000 after purchasing an additional 26,573 shares during the last quarter. Hedge funds and other institutional investors own 52.76% of the company’s stock.

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.