FY2024 Earnings Estimate for Airgain Issued By Roth Capital

Airgain, Inc. (NASDAQ:AIRG) – Stock analysts at Roth Capital lowered their FY2024 EPS estimates for Airgain in a research report issued on Sunday, February 2nd. Roth Capital analyst S. Searle now expects that the technology company will earn ($0.55) per share for the year, down from their previous estimate of ($0.51). The consensus estimate for Airgain’s current full-year earnings is ($0.50) 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) last released its earnings results 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 during the quarter, compared to analysts’ expectations of $16.00 million. Airgain had a negative net margin of 21.96% and a negative return on equity of 29.90%. During the same quarter last year, the business earned ($0.11) EPS.

A number of other brokerages have also issued reports on AIRG. Northland Securities reiterated an “outperform” rating and set a $11.50 price target (up from $8.00) on shares of Airgain in a research note on Wednesday, November 13th. Craig Hallum lifted their target price on shares of Airgain from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Airgain Price Performance

NASDAQ AIRG opened at $7.00 on Wednesday. Airgain has a 12 month low of $3.71 and a 12 month high of $10.34. The company has a market capitalization of $79.45 million, a price-to-earnings ratio of -6.14 and a beta of 0.71. The firm’s fifty day moving average price is $7.54 and its 200 day moving average price is $7.93.

Insiders Place Their Bets

In related 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 value of $61,602.93. Following the completion of the sale, the chief financial officer now owns 102,794 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 16.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of 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 valued at $841,000 after purchasing an additional 20,970 shares in the last quarter. US Bancorp DE grew its position in Airgain by 3.7% in the third quarter. US Bancorp DE now owns 66,641 shares of the technology company’s stock valued at $502,000 after acquiring an additional 2,400 shares during the last quarter. Farther Finance Advisors LLC raised its holdings 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 buying an additional 24,000 shares during the last quarter. Finally, Bailard Inc. acquired a new position in Airgain in the fourth quarter valued at $235,000. Institutional investors own 52.76% of the company’s stock.

About Airgain

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.