B.Riley FBR analyst Craig Ellis maintained a Hold rating on Airgain Inc (NASDAQ: AIRG) today and set a price target of $8.50. The company’s shares opened today at $9.07.
Ellis observed:
“AIRG reports Thursday, 8/9 AMC and we believe 3Q18 estimates—unchanged since it last reported on 5/3, are makeable. A caveat is that Mgmt does not typically provide forward quarterly guidance, though has maintained aspirations for +20% Y/Y growth which has kept CY18’s SS estimates in a reasonably tight quarterly and annual range. The backdrop is 1H18’s full C-suite shake-up, led by Chairman Jim Sims taking the interim CEO role. We suspect moves are aimed to remedy a lumpy operating and financial results execution history since early 2017, including 1H18’s dip into loss-incurring territory, and ultimately drive revenue and profit growth consistency.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 35.5% and a 76.0% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Silicon Laboratories.
The word on The Street in general, suggests a Hold analyst consensus rating for Airgain Inc with a $8.50 average price target.
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Based on Airgain Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $1.11 million. In comparison, last year the company had a GAAP net loss of $70.12K.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AIRG in relation to earlier this year.
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Airgain, Inc. provides embedded antenna products, integration support and test services. The firm works in partnership with the entire ecosystem, including carriers, chipset suppliers, OEMs, and ODMs. Its products include embedded, external and carrier-class antennas. The firm offers custom antenna design and performance validation services.
