Beyond Air, Inc. (NASDAQ:XAIR – Get Free Report) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 21,447 shares, a drop of 93.5% from the June 30th total of 331,830 shares. Approximately 3.3% of the company’s stock are sold short. Based on an average daily trading volume, of 23,934 shares, the short-interest ratio is presently 0.9 days.
Institutional Trading of Beyond Air
Hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. purchased a new position in shares of Beyond Air during the 3rd quarter valued at $1,753,000. Geode Capital Management LLC raised its stake in Beyond Air by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after acquiring an additional 12,598 shares during the period. Virtu Financial LLC bought a new stake in Beyond Air in the 3rd quarter valued at about $48,000. Finally, Osaic Holdings Inc. lifted its holdings in Beyond Air by 26.4% during the second quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock valued at $29,000 after purchasing an additional 34,000 shares during the last quarter. 31.50% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on XAIR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Beyond Air in a research note on Tuesday. D. Boral Capital reaffirmed a “buy” rating and set a $200.00 target price on shares of Beyond Air in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $200.00.
Beyond Air Stock Performance
XAIR stock traded down $0.31 during midday trading on Friday, hitting $5.16. The company’s stock had a trading volume of 8,742 shares, compared to its average volume of 20,526. The stock’s 50-day moving average price is $8.00 and its 200 day moving average price is $14.62. The company has a quick ratio of 3.59, a current ratio of 3.80 and a debt-to-equity ratio of 3.48. Beyond Air has a 1 year low of $5.16 and a 1 year high of $95.60. The stock has a market cap of $3.72 million, a price-to-earnings ratio of -0.06 and a beta of 0.22.
Beyond Air (NASDAQ:XAIR – Get Free Report) last announced its quarterly earnings data on Friday, June 26th. The company reported ($15.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($11.33) by ($4.07). The business had revenue of $1.91 million during the quarter, compared to the consensus estimate of $2.30 million. Beyond Air had a negative net margin of 432.99% and a negative return on equity of 350.00%.
About Beyond Air
Beyond Air, Inc is a clinical-stage medical technology company focused on the development and commercialization of inhaled nitric oxide (NO) therapy for pulmonary and respiratory diseases. The company’s proprietary LungFit® platform delivers pulsed, low-dose nitric oxide gas through compact, portable devices designed to support treatments in both inpatient and outpatient settings. Beyond Air’s approach leverages NO’s antimicrobial, vasodilatory and anti-inflammatory properties to address a range of unmet needs in respiratory medicine.
The company’s lead candidate, LungFit® PH, is under investigation for the treatment of pulmonary hypertension, with ongoing clinical studies assessing its impact on pulmonary arterial pressure and exercise capacity.
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