Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Drops By 20.0%

Beyond Air, Inc. (NASDAQ:XAIR) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 597,300 shares, a decrease of 20.0% from the August 15th total of 747,000 shares. Based on an average daily trading volume, of 815,700 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and set a $2.00 price target on shares of Beyond Air in a research note on Friday, August 16th. Roth Capital raised shares of Beyond Air to a “strong-buy” rating in a research report on Friday, August 16th. Piper Sandler decreased their target price on shares of Beyond Air from $3.50 to $1.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, BTIG Research cut shares of Beyond Air from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $3.67.

Beyond Air Stock Performance

Beyond Air stock opened at $0.42 on Tuesday. Beyond Air has a 12 month low of $0.36 and a 12 month high of $3.08. The company has a market cap of $19.19 million, a PE ratio of -0.23 and a beta of -0.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.63 and a quick ratio of 2.42. The company has a fifty day moving average price of $0.49 and a two-hundred day moving average price of $1.02.

Beyond Air (NASDAQ:XAIR) 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 net margin of 3,272.46% and a negative return on equity of 240.15%. The business had revenue of $0.68 million during the quarter, compared to the consensus estimate of $0.72 million. During the same quarter in the prior year, the company posted ($0.45) earnings per share. Research analysts expect that Beyond Air will post -1.03 earnings per share for the current year.

Insider Activity

In related news, CEO Steven A. Lisi purchased 100,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $0.39 per share, for a total transaction of $39,000.00. Following the acquisition, the chief executive officer now directly owns 1,722,785 shares of the company’s stock, valued at approximately $671,886.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 19.00% of the company’s stock.

Institutional Trading of Beyond Air

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Beyond Air by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 1,399,298 shares of the company’s stock valued at $2,435,000 after buying an additional 66,224 shares in the last quarter. Gendell Jeffrey L boosted its position in shares of Beyond Air by 2.8% in the fourth quarter. Gendell Jeffrey L now owns 1,120,297 shares of the company’s stock valued at $2,196,000 after acquiring an additional 30,000 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Beyond Air in the second quarter valued at approximately $47,000. Finally, Rosalind Advisors Inc. bought a new stake in shares of Beyond Air in the first quarter valued at approximately $1,572,000. Institutional investors and hedge funds own 31.50% of the company’s stock.

Beyond Air Company Profile

Beyond Air, Inc operates as a commercial-stage medical device and biopharmaceutical company in the United States. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn.