Advertisement
Singapore markets close in 3 hours 47 minutes

  • Straits Times Index

    3,283.24
    -9.89 (-0.30%)
     

  • Nikkei

    37,681.04
    -779.04 (-2.03%)
     

  • Hang Seng

    17,295.93
    +94.66 (+0.55%)
     

  • FTSE 100

    8,040.38
    -4.43 (-0.06%)
     

  • Bitcoin USD

    64,168.87
    -2,781.24 (-4.15%)
     

  • CMC Crypto 200

    1,390.39
    -33.71 (-2.37%)
     

  • S&P 500

    5,071.63
    +1.08 (+0.02%)
     

  • Dow

    38,460.92
    -42.77 (-0.11%)
     

  • Nasdaq

    15,712.75
    +16.11 (+0.10%)
     

  • Gold

    2,328.00
    -10.40 (-0.44%)
     

  • Crude Oil

    82.92
    +0.11 (+0.13%)
     

  • 10-Yr Bond

    4.6520
    +0.0540 (+1.17%)
     

  • FTSE Bursa Malaysia

    1,570.29
    -1.19 (-0.08%)
     

  • Jakarta Composite Index

    7,157.23
    -17.30 (-0.24%)
     

  • PSE Index

    6,580.26
    +7.51 (+0.11%)
     

Airgain (AIRG) Soars 6.3%: Is Further Upside Left in the Stock?

Zacks Equity Research
·2-min read

Airgain (AIRG) shares soared 6.3% in the last trading session to close at $11.54. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.9% loss over the past four weeks.

AIRG’s rally is driven by optimism over the increased deployment of its innovative connectivity solutions on the back of accretive collaborations with IT companies and communications equipment companies. Moreover, the acquisition of NimbeLink acts as a major tailwind in augmenting its reach in the industrial IoT market.

It is focused on leveraging its diverse product line to address specific requirements of connectivity within government organizations and public safety agencies. This is expected to augment Airgain’s footprint in the public sector while providing it an opportunity to tap strategic alliances with industry leaders in the long run. Further, the company is set to report third-quarter 2021 results on Nov 9 with expectations of higher year-over-year revenues. All these factors are likely to drive its growth momentum in 2021.

This antenna products developer is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -183.3%. Revenues are expected to be $16 million, up 23% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

ADVERTISEMENT

For Airgain, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on AIRG going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Airgain, Inc. (AIRG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research