Short Interest in Airgain, Inc. (NASDAQ:AIRG) Declines By 15.9%

Airgain, Inc. (NASDAQ:AIRG - Get Free Report) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 136,000 shares, a drop of 15.9% from the November 15th total of 161,800 shares. Currently, 1.4% of the company's stock are sold short. Based on an average trading volume of 40,800 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Northland Securities reiterated 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 lifted their target price on shares of Airgain from $8.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.

Insider Activity at Airgain

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position in shares of Airgain by 195.5% in the third quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company's stock worth $274,000 after purchasing an additional 24,000 shares during the period. US Bancorp DE boosted its holdings in 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. Geode Capital Management LLC increased 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 worth $841,000 after buying an additional 20,970 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Airgain by 0.8% during the second quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company's stock valued at $2,128,000 after acquiring an additional 2,800 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Airgain by 30.9% in the second quarter. First Eagle Investment Management LLC now owns 558,309 shares of the technology company's stock valued at $3,372,000 after acquiring an additional 131,675 shares in the last quarter. Hedge funds and other institutional investors own 52.76% of the company's stock.

Airgain Stock Performance

Shares of NASDAQ AIRG traded down $0.15 during midday trading on Friday, hitting $8.14. 33,731 shares of the company's stock traded hands, compared to its average volume of 32,336. The firm has a fifty day moving average of $9.10 and a 200 day moving average of $7.61. Airgain has a 1 year low of $3.06 and a 1 year high of $10.34. The stock has a market capitalization of $92.39 million, a price-to-earnings ratio of -7.14 and a beta of 0.69.

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.