Insider Selling: Airgain, Inc. (NASDAQ:AIRG) CEO Sells 12,093 Shares of Stock

Airgain, Inc. (NASDAQ:AIRG - Get Free Report) CEO Jacob Suen sold 12,093 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $4.85, for a total value of $58,651.05. Following the completion of the sale, the chief executive officer now owns 229,999 shares of the company's stock, valued at approximately $1,115,495.15. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Airgain Price Performance

Shares of AIRG stock traded up $0.38 during trading hours on Tuesday, reaching $4.73. The stock had a trading volume of 21,692 shares, compared to its average volume of 27,761. The firm has a 50-day simple moving average of $6.75 and a 200-day simple moving average of $7.80. Airgain, Inc. has a twelve month low of $3.72 and a twelve month high of $10.34. The firm has a market capitalization of $54.67 million, a PE ratio of -4.15 and a beta of 0.67.

Airgain (NASDAQ:AIRG - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The technology company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.14). The business had revenue of $15.08 million for the quarter, compared to analyst estimates of $16.35 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. On average, equities analysts anticipate that Airgain, Inc. will post -0.53 earnings per share for the current year.

Hedge Funds Weigh In On Airgain

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AIRG. Virtu Financial LLC bought a new stake in Airgain in the fourth quarter worth about $73,000. Marshall Wace LLP purchased a new stake in shares of Airgain in the 4th quarter valued at approximately $75,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Airgain in the fourth quarter worth $107,000. Essex Investment Management Co. LLC acquired a new stake in Airgain during the 4th quarter worth about $145,000. Finally, Jane Street Group LLC purchased a new position in Airgain during the fourth quarter valued at approximately $192,000. 52.76% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AIRG shares. Craig Hallum dropped their price objective on shares of Airgain from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Northland Securities reaffirmed an "outperform" rating and set a $11.50 target price (up previously from $8.00) on shares of Airgain in a report on Wednesday, November 13th.

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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.

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