Airgain (NASDAQ:AIRG) Share Price Passes Below 50-Day Moving Average - Should You Sell?

Airgain, Inc. (NASDAQ:AIRG - Get Free Report) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.73 and traded as low as $6.85. Airgain shares last traded at $6.87, with a volume of 128,960 shares traded.

Analyst Ratings Changes

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

Airgain Price Performance

The stock has a market capitalization of $78.49 million, a PE ratio of -6.07 and a beta of 0.72. The firm has a fifty day moving average price of $7.70 and a two-hundred day moving average price of $7.93.

Airgain (NASDAQ:AIRG - Get Free Report) last released its earnings results on Tuesday, November 12th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.08). The business had revenue of $16.10 million during the quarter, compared to analysts' expectations of $16.00 million. Airgain had a negative return on equity of 29.90% and a negative net margin of 21.96%. During the same quarter in the previous year, the business earned ($0.11) EPS. On average, research analysts expect that Airgain, Inc. will post -0.5 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael Elbaz sold 6,777 shares of Airgain stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $9.09, for a total transaction of $61,602.93. Following the transaction, the chief financial officer now directly owns 102,794 shares of the company's stock, valued at $934,397.46. This trade represents a 6.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.10% of the company's stock.

Institutional Investors Weigh In On Airgain

A number of institutional investors have recently added to or reduced their stakes in AIRG. Geode Capital Management LLC lifted its holdings in shares of Airgain by 23.2% during the 3rd quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company's stock valued at $841,000 after purchasing an additional 20,970 shares during the last quarter. US Bancorp DE raised its stake in Airgain by 3.7% in the third quarter. US Bancorp DE now owns 66,641 shares of the technology company's stock valued at $502,000 after buying an additional 2,400 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Airgain by 195.5% in the third quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company's stock valued at $274,000 after buying an additional 24,000 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Airgain by 0.8% during the second quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company's stock worth $2,128,000 after acquiring an additional 2,800 shares during the last quarter. 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.