Airgain (NASDAQ:AIRG) Shares Down 1.9% - Here's What Happened

Shares of Airgain, Inc. (NASDAQ:AIRG - Get Free Report) traded down 1.9% on Tuesday . The company traded as low as $8.50 and last traded at $8.64. 30,382 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 32,426 shares. The stock had previously closed at $8.81.

Wall Street Analysts Forecast Growth

AIRG has been the topic of a number of research reports. Craig Hallum increased their target price on shares of Airgain from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Northland Securities reiterated an "outperform" rating and issued a $11.50 price target (up previously from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

Airgain Trading Down 2.1 %

The business's fifty day moving average price is $9.12 and its 200 day moving average price is $7.58. The firm has a market capitalization of $96.02 million, a price-to-earnings ratio of -7.42 and a beta of 0.69.

Insiders Place Their Bets

In other Airgain news, CFO Michael Elbaz sold 6,777 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $9.09, for a total transaction of $61,602.93. Following the sale, the chief financial officer now owns 102,794 shares in the company, valued at approximately $934,397.46. This represents a 6.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.10% of the company's stock.

Institutional Trading of Airgain

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIRG. First Eagle Investment Management LLC boosted its holdings in shares of Airgain by 30.9% during the second quarter. First Eagle Investment Management LLC now owns 558,309 shares of the technology company's stock worth $3,372,000 after purchasing an additional 131,675 shares during the last quarter. US Bancorp DE boosted its stake 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 last quarter. Farther Finance Advisors LLC grew its holdings in Airgain by 195.5% in the 3rd 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 period. Renaissance Technologies LLC increased its stake in shares of Airgain by 0.8% during the 2nd 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 last quarter. Finally, 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 worth $841,000 after acquiring an additional 20,970 shares during the period. Hedge funds and other 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.