Airgain (NASDAQ:AIRG) Shares Down 3.4% – Here’s Why

Airgain, Inc. (NASDAQ:AIRG)’s stock price traded down 3.4% during trading on Monday . The stock traded as low as $6.70 and last traded at $6.76. 25,124 shares traded hands during trading, an increase of 25% from the average session volume of 20,141 shares. The stock had previously closed at $7.00.

Analysts Set New Price Targets

AIRG has been the topic of several recent research reports. Craig Hallum raised their price target on 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 target price (up from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

Airgain Price Performance

The stock has a fifty day moving average price of $8.51 and a two-hundred day moving average price of $7.81. The company has a market cap of $76.69 million, a P/E ratio of -5.93 and a beta of 0.72.

Insider Buying and Selling at Airgain

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 completion of the transaction, the chief financial officer now directly owns 102,794 shares of the company’s stock, valued at approximately $934,397.46. This trade represents a 6.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Airgain by 195.5% during the third 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 during the period. US Bancorp DE raised its holdings in 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 buying an additional 2,400 shares during the period. Geode Capital Management LLC lifted its stake in Airgain by 23.2% during the third quarter. Geode Capital Management LLC now owns 111,476 shares of the technology company’s stock valued at $841,000 after buying an additional 20,970 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Airgain by 0.8% in the second quarter. Renaissance Technologies LLC now owns 352,336 shares of the technology company’s stock worth $2,128,000 after buying an additional 2,800 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Airgain by 30.9% in the second quarter. First Eagle Investment Management LLC now owns 558,309 shares of the technology company’s stock worth $3,372,000 after buying an additional 131,675 shares during the period. Institutional investors 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.