Airgain, Inc. (NASDAQ:AIRG) Expected to Announce Quarterly Sales of $14.00 Million

Analysts predict that Airgain, Inc. (NASDAQ:AIRG) will report sales of $14.00 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Airgain’s earnings. Airgain posted sales of $12.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The company is expected to issue its next quarterly earnings report on Thursday, February 17th.

According to Zacks, analysts expect that Airgain will report full-year sales of $64.13 million for the current year, with estimates ranging from $64.10 million to $64.20 million. For the next financial year, analysts forecast that the company will report sales of $78.44 million, with estimates ranging from $71.94 million to $82.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Airgain.

Airgain (NASDAQ:AIRG) last released its quarterly earnings results on Tuesday, November 9th. The technology company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.06). Airgain had a negative return on equity of 8.41% and a negative net margin of 10.36%. During the same quarter last year, the company posted ($0.03) EPS.

Several brokerages recently issued reports on AIRG. TheStreet cut shares of Airgain from a “c-” rating to a “d+” rating in a research note on Tuesday, October 5th. Cowen cut shares of Airgain from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $18.00 to $14.00 in a research note on Thursday, October 14th. William Blair reaffirmed a “market perform” rating on shares of Airgain in a research note on Wednesday, November 10th. Zacks Investment Research cut shares of Airgain from a “hold” rating to a “sell” rating in a research note on Wednesday, November 3rd. Finally, B. Riley dropped their price objective on shares of Airgain from $27.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, November 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Airgain has a consensus rating of “Hold” and a consensus price target of $21.60.

NASDAQ AIRG traded up $0.32 during trading hours on Thursday, hitting $9.57. 58,057 shares of the company’s stock traded hands, compared to its average volume of 112,427. Airgain has a 52-week low of $9.05 and a 52-week high of $29.50. The company has a market cap of $96.61 million, a P/E ratio of -14.72 and a beta of 1.11. The company’s 50-day moving average is $11.87.

In related news, Director James K. Sims acquired 9,701 shares of the firm’s stock in a transaction dated Friday, November 12th. The shares were purchased at an average cost of $10.50 per share, for a total transaction of $101,860.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings in Airgain by 3.4% during the 3rd quarter. Renaissance Technologies LLC now owns 506,136 shares of the technology company’s stock worth $6,382,000 after buying an additional 16,649 shares in the last quarter. North Run Capital LP lifted its holdings in Airgain by 73.3% during the 2nd quarter. North Run Capital LP now owns 468,000 shares of the technology company’s stock worth $9,650,000 after buying an additional 198,000 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Airgain by 4.9% during the 1st quarter. Ameriprise Financial Inc. now owns 360,636 shares of the technology company’s stock worth $7,641,000 after buying an additional 16,706 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Airgain by 1.6% during the 3rd quarter. Penserra Capital Management LLC now owns 324,631 shares of the technology company’s stock worth $4,093,000 after buying an additional 5,024 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC lifted its holdings in Airgain by 0.8% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 278,838 shares of the technology company’s stock worth $3,516,000 after buying an additional 2,085 shares in the last quarter. Institutional investors own 55.97% of the company’s stock.

Airgain Company Profile

Airgain, Inc provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The company offers custom antenna design and performance validation services.

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Earnings History and Estimates for Airgain (NASDAQ:AIRG)

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