FY2024 Earnings Estimate for Airgain Issued By Roth Capital

Airgain, Inc. (NASDAQ:AIRG - Free Report) - Stock analysts at Roth Capital cut their FY2024 earnings estimates for shares of Airgain in a report released on Sunday, February 2nd. Roth Capital analyst S. Searle now forecasts that the technology company will post earnings of ($0.55) per share for the year, down from their previous forecast of ($0.51). The consensus estimate for Airgain's current full-year earnings is ($0.53) per share. Roth Capital also issued estimates for Airgain's Q1 2025 earnings at ($0.19) EPS, Q2 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.40) EPS.

Airgain (NASDAQ:AIRG - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.08). The firm had revenue of $16.10 million for the quarter, compared to analyst estimates 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 prior year, the firm earned ($0.11) earnings per share.

AIRG has been the topic of a number of other research reports. Craig Hallum upped their price target on shares of Airgain from $8.00 to $12.00 and gave the company a "buy" rating in a research note 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 Stock Performance

AIRG traded down $0.44 on Wednesday, reaching $6.91. The company had a trading volume of 5,631 shares, compared to its average volume of 32,467. Airgain has a fifty-two week low of $3.71 and a fifty-two week high of $10.34. The stock has a market cap of $78.43 million, a P/E ratio of -6.06 and a beta of 0.71. The company's fifty day moving average is $7.44 and its 200 day moving average is $7.92.

Institutional Trading of Airgain

A number of institutional investors and hedge funds have recently made changes to their positions in the company. 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. US Bancorp DE lifted its holdings in shares of Airgain by 3.7% during the 3rd quarter. US Bancorp DE now owns 66,641 shares of the technology company's stock worth $502,000 after acquiring an additional 2,400 shares during the period. Farther Finance Advisors LLC increased its position in Airgain by 195.5% during the 3rd 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 in the last quarter. Bailard Inc. acquired a new position in Airgain during the 4th quarter worth approximately $235,000. Finally, Essex Investment Management Co. LLC acquired a new position in Airgain during the 4th quarter worth approximately $145,000. Institutional investors own 52.76% of the company's stock.

Insider Buying and Selling at Airgain

In other news, CFO Michael Elbaz sold 6,777 shares of the company's 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 completion of the sale, the chief financial officer now owns 102,794 shares of the company's stock, valued at approximately $934,397.46. This represents a 6.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 16.10% of the company's stock.

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.