Insider Selling: Airgain, Inc. (NASDAQ:AIRG) CEO Sells 12,093 Shares of Stock

Airgain, Inc. (NASDAQ:AIRG) CEO Jacob Suen sold 12,093 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $4.85, for a total value of $58,651.05. Following the completion of the sale, the chief executive officer now owns 229,999 shares of the company’s stock, valued at approximately $1,115,495.15. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Airgain Price Performance

Shares of AIRG stock traded up $0.38 during trading hours on Tuesday, reaching $4.73. The stock had a trading volume of 21,692 shares, compared to its average volume of 27,761. The firm has a 50-day simple moving average of $6.75 and a 200-day simple moving average of $7.80. Airgain, Inc. has a twelve month low of $3.72 and a twelve month high of $10.34. The firm has a market capitalization of $54.67 million, a PE ratio of -4.15 and a beta of 0.67.

Airgain (NASDAQ:AIRG) last issued its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). The business had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.35 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. On average, equities analysts anticipate that Airgain, Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Airgain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIRG. Virtu Financial LLC bought a new stake in Airgain in the fourth quarter worth about $73,000. Marshall Wace LLP purchased a new stake in shares of Airgain in the 4th quarter valued at approximately $75,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Airgain in the fourth quarter worth $107,000. Essex Investment Management Co. LLC acquired a new stake in Airgain during the 4th quarter worth about $145,000. Finally, Jane Street Group LLC purchased a new position in Airgain during the fourth quarter valued at approximately $192,000. 52.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AIRG shares. Craig Hallum dropped their price objective on shares of Airgain from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Northland Securities reaffirmed an “outperform” rating and set a $11.50 target price (up previously from $8.00) on shares of Airgain in a report on Wednesday, November 13th.

Airgain Company Profile

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.