Airgain, Inc. (NASDAQ:AIRG) Short Interest Up 13.3% in April

Key Points

• Short interest rose 13.3% in April to 163,843 shares (about 1.6% of the stock), giving a short-interest ratio of roughly 1.7 days based on average daily volume.
• Company insiders — including the CFO and CEO — sold shares on March 20, with insiders dumping 83,653 shares worth $360,404 over the past three months, though insiders still own 17.8% of the company.
• Analysts give AIRG an average rating of "Moderate Buy" with an average target of $6.20 (four Buys, one Sell), while the stock opened at $7.07 and the market cap is about $86.4 million.

Airgain, Inc. (NASDAQ:AIRG - Get Free Report) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 163,843 shares, an increase of 13.3% from the March 31st total of 144,632 shares. Based on an average daily volume of 98,845 shares, the short-interest ratio is currently 1.7 days. Approximately 1.6% of the company's stock are short sold.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AIRG shares. Royal Bank Of Canada set a $6.00 target price on Airgain in a research report on Wednesday, January 21st. Lake Street Capital started coverage on Airgain in a research report on Wednesday, January 21st. They issued a "buy" rating and a $6.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Airgain in a research report on Monday, April 20th. Finally, Wall Street Zen raised Airgain to a "hold" rating in a research report on Saturday, March 28th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $6.20.

Insider Buying and Selling at Airgain

In other Airgain news, CFO Michael Elbaz sold 12,769 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $4.12, for a total value of $52,608.28. Following the transaction, the chief financial officer directly owned 140,780 shares of the company's stock, valued at $580,013.60. This represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jacob Suen sold 37,314 shares of the company's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $4.12, for a total value of $153,733.68. Following the completion of the transaction, the chief executive officer directly owned 284,431 shares in the company, valued at approximately $1,171,855.72. The trade was a 11.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 83,653 shares of company stock valued at $360,404 in the last three months. Corporate insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On Airgain

Several large investors have recently added to or reduced their stakes in the company. Nano Cap New Millennium Growth Fund L P bought a new position in Airgain during the fourth quarter worth $934,000. Farther Finance Advisors LLC lifted its stake in Airgain by 24.2% during the third quarter. Farther Finance Advisors LLC now owns 38,500 shares of the technology company's stock worth $167,000 after purchasing an additional 7,500 shares during the last quarter. Citadel Advisors LLC lifted its stake in Airgain by 270.1% during the third quarter. Citadel Advisors LLC now owns 27,214 shares of the technology company's stock worth $118,000 after purchasing an additional 43,214 shares during the last quarter. Susquehanna International Group LLP bought a new position in Airgain during the third quarter worth $91,000. Finally, XTX Topco Ltd bought a new position in Airgain during the fourth quarter worth $44,000. 52.76% of the stock is currently owned by institutional investors.

Airgain Price Performance

Shares of AIRG opened at $7.07 on Friday. The business's fifty day moving average price is $5.28 and its 200 day moving average price is $4.60. Airgain has a 12-month low of $3.00 and a 12-month high of $7.20. The stock has a market capitalization of $86.40 million, a PE ratio of -13.34 and a beta of 0.76.

About Airgain

Airgain, Inc NASDAQ: AIRG is a provider of intelligent wireless connectivity solutions designed to enhance data transmission, network performance and antenna efficiency for a range of devices. Headquartered in San Diego, California, the company develops both embedded and external antenna systems, as well as associated connectivity software, to support wireless applications across cellular, Wi-Fi, machine-to-machine (M2M) and Internet of Things (IoT) markets.

The company's product portfolio includes modular smart antennas, parallel path phase-diversity antennas and advanced array antenna solutions that are optimized for environments such as smart homes, industrial automation, transportation and enterprise networking.

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