Zacks Investment Research Upgrades Airgain (AIRG) to Buy

Airgain (NASDAQ:AIRG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $14.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 8.86% from the stock’s previous close.

According to Zacks, “Airgain, Inc. is a provider of embedded antenna technologies. It offers antennas for the devices which are deployed in carrier, enterprise and residential wireless networks and systems, including set top boxes, access points, routers, gateways, media adapters and digital televisions. The company also offers residential wireless local area network or wireless fidelity to carriers, original equipment manufacturers, original design manufacturers and system designers. Airgain, Inc. is based in San Diego, United States. “

Several other research analysts have also recently weighed in on the company. TheStreet raised Airgain from a “d+” rating to a “c” rating in a research report on Monday, September 17th. William Blair reaffirmed an “outperform” rating on shares of Airgain in a research report on Friday, August 17th. ValuEngine raised Airgain from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, B. Riley raised Airgain from a “neutral” rating to a “buy” rating and increased their price target for the company from $8.50 to $13.00 in a research report on Friday, August 10th. Five research analysts have rated the stock with a buy rating, Airgain presently has a consensus rating of “Buy” and an average target price of $13.33.

Shares of AIRG stock traded up $0.63 on Wednesday, hitting $12.86. 2,091 shares of the stock were exchanged, compared to its average volume of 32,083. The stock has a market capitalization of $117.62 million, a P/E ratio of 116.73 and a beta of 2.22. Airgain has a fifty-two week low of $7.31 and a fifty-two week high of $13.87.

Airgain (NASDAQ:AIRG) last posted its quarterly earnings data on Thursday, August 9th. The technology company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.07. The company had revenue of $15.00 million during the quarter, compared to analysts’ expectations of $14.02 million. Airgain had a negative return on equity of 7.47% and a negative net margin of 6.48%. Airgain’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts anticipate that Airgain will post -0.4 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Trellus Management Company LLC boosted its position in Airgain by 14.3% during the second quarter. Trellus Management Company LLC now owns 80,000 shares of the technology company’s stock valued at $735,000 after purchasing an additional 10,000 shares during the last quarter. Manatuck Hill Partners LLC acquired a new position in Airgain during the second quarter valued at approximately $116,000. Dimensional Fund Advisors LP acquired a new position in Airgain during the second quarter valued at approximately $138,000. Northpointe Capital LLC acquired a new position in Airgain during the second quarter valued at approximately $565,000. Finally, Perkins Capital Management Inc. acquired a new position in Airgain during the third quarter valued at approximately $822,000. 28.01% of the stock is owned by hedge funds and other institutional investors.

About Airgain

Airgain, Inc designs, develops, and engineers antenna products for original equipment and design manufacturers, chipset vendors, and service providers worldwide. Its products include MaxBeam embedded antennas; profile embedded antennas; profile contour embedded antennas; ultra-embedded antennas; omnimax high performance external antennas; MaxBeam carrier class antennas; and SmartMax embedded antennas, as well as automotive, fleet, public safety, and M2M antennas.

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