Short Interest in Airgain, Inc. (NASDAQ:AIRG) Expands By 28.9%

Key Points

• Airgain, Inc. (NADSAQ:AIRG) experienced a notable rise in short interest, increasing by 28.9% in August, totaling 121,200 shares.
• The stock currently has a consensus rating of "Buy" from three analysts, with a target price set at $8.50 despite a price objective downgrade from Roth Capital.
• Institutional investors collectively own 52.76% of Airgain's stock, with significant increases in holdings reported from firms like Northern Trust Corp and Ameriprise Financial Inc.

Airgain, Inc. (NASDAQ:AIRG - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 121,200 shares, a growth of 28.9% from the August 15th total of 94,000 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average trading volume of 26,700 shares, the days-to-cover ratio is presently 4.5 days. Based on an average trading volume of 26,700 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Roth Capital cut their price objective on Airgain from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $8.50.

Airgain Trading Down 2.3%

Shares of AIRG stock traded down $0.10 during mid-day trading on Friday, reaching $4.30. The stock had a trading volume of 48,170 shares, compared to its average volume of 28,871. Airgain has a 12-month low of $3.17 and a 12-month high of $10.34. The company has a market cap of $51.17 million, a P/E ratio of -7.41 and a beta of 0.80. The business has a 50-day simple moving average of $4.45 and a 200 day simple moving average of $4.18.

Institutional Trading of Airgain

Large investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in shares of Airgain by 69.4% during the fourth quarter. Northern Trust Corp now owns 64,861 shares of the technology company's stock valued at $458,000 after acquiring an additional 26,573 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Airgain by 0.5% during the fourth quarter. Ameriprise Financial Inc. now owns 677,584 shares of the technology company's stock valued at $4,784,000 after acquiring an additional 3,283 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Airgain during the fourth quarter worth $192,000. Bard Associates Inc. boosted its holdings in shares of Airgain by 2.6% during the first quarter. Bard Associates Inc. now owns 157,830 shares of the technology company's stock worth $532,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Marathon Capital Management acquired a new stake in shares of Airgain during the second quarter worth $42,000. Institutional investors and hedge funds own 52.76% 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.