Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Rises By 143.2%

12 Oct 2024, 07:46 by Renee Jackson · The Cerbat Gem

Beyond Air, Inc. (NASDAQ:XAIR – Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 1,080,000 shares, a growth of 143.2% from the September 15th total of 444,100 shares. Based on an average daily volume of 526,200 shares, the days-to-cover ratio is currently 2.1 days.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on XAIR shares. Roth Mkm reiterated a “buy” rating and set a $2.00 price target on shares of Beyond Air in a research note on Friday, August 16th. BTIG Research lowered Beyond Air from a “buy” rating to a “neutral” rating in a report on Tuesday, June 25th. Roth Capital upgraded Beyond Air to a “strong-buy” rating in a report on Friday, August 16th. Finally, Piper Sandler dropped their price objective on Beyond Air from $3.50 to $1.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Beyond Air has an average rating of “Buy” and a consensus target price of $3.67.

Check Out Our Latest Stock Analysis on XAIR

Beyond Air Price Performance

Beyond Air stock opened at $0.34 on Friday. The stock has a market cap of $15.86 million, a P/E ratio of -0.21 and a beta of -0.12. The company has a quick ratio of 2.42, a current ratio of 2.63 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average price is $0.41 and its two-hundred day moving average price is $0.85. Beyond Air has a 52 week low of $0.30 and a 52 week high of $2.61.

Beyond Air (NASDAQ:XAIR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.27) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.12. Beyond Air had a negative return on equity of 240.15% and a negative net margin of 3,272.46%. The business had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $0.72 million. During the same quarter in the previous year, the firm earned ($0.45) earnings per share. On average, equities analysts predict that Beyond Air will post -1.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Steven A. Lisi acquired 1,476,626 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were purchased at an average price of $0.50 per share, for a total transaction of $738,313.00. Following the completion of the acquisition, the chief executive officer now owns 3,249,411 shares of the company’s stock, valued at approximately $1,624,705.50. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Steven A. Lisi bought 1,476,626 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were bought at an average cost of $0.50 per share, for a total transaction of $738,313.00. Following the acquisition, the chief executive officer now directly owns 3,249,411 shares in the company, valued at approximately $1,624,705.50. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven A. Lisi purchased 100,000 shares of Beyond Air stock in a transaction that occurred on Wednesday, August 14th. The stock was acquired at an average cost of $0.39 per share, with a total value of $39,000.00. Following the transaction, the chief executive officer now owns 1,722,785 shares in the company, valued at $671,886.15. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 1,615,892 shares of company stock worth $793,019. 19.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Beyond Air

Several institutional investors have recently added to or reduced their stakes in the stock. Gendell Jeffrey L boosted its stake in Beyond Air by 30.4% in the first quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock valued at $2,542,000 after acquiring an additional 340,774 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Beyond Air by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock worth $2,435,000 after purchasing an additional 66,224 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Beyond Air in the 2nd quarter worth approximately $47,000. Institutional investors own 31.50% of the company’s stock.

About Beyond Air

(Get Free Report)