Airgain (NASDAQ:AIRG) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Airgain, Inc. (NASDAQ:AIRG) passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $7.29 and traded as low as $6.99. Airgain shares last traded at $7.15, with a volume of 27,225 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIRG. 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 restated an “outperform” rating and issued a $11.50 price target (up from $8.00) on shares of Airgain in a research note on Wednesday, November 13th.

Airgain Stock Performance

The company’s 50-day moving average is $7.26 and its two-hundred day moving average is $7.91.

Insider Buying and Selling

In other news, CFO Michael Elbaz sold 6,777 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $9.09, for a total value of $61,602.93. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Airgain by 23.2% in the 3rd 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 during the last quarter. US Bancorp DE grew its position 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 buying an additional 2,400 shares during the period. Farther Finance Advisors LLC grew its position in Airgain by 195.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 36,277 shares of the technology company’s stock valued at $274,000 after purchasing an additional 24,000 shares during the period. Jane Street Group LLC acquired a new stake in Airgain in the 4th quarter valued at $192,000. Finally, Northern Trust Corp lifted its stake in Airgain by 69.4% during the 4th 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 in the last quarter. 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.