Short Interest in Beyond Air, Inc. (NASDAQ:XAIR) Declines By 20.6%

by · The Cerbat Gem

Beyond Air, Inc. (NASDAQ:XAIR – Get Free Report) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 292,952 shares, a decrease of 20.6% from the November 30th total of 368,768 shares. Based on an average trading volume of 119,012 shares, the short-interest ratio is presently 2.5 days. Approximately 4.5% of the shares of the company are short sold. Approximately 4.5% of the shares of the company are short sold. Based on an average trading volume of 119,012 shares, the short-interest ratio is presently 2.5 days.

Beyond Air Stock Up 3.8%

XAIR opened at $0.73 on Thursday. Beyond Air has a 12 month low of $0.67 and a 12 month high of $10.40. The company has a market cap of $5.82 million, a PE ratio of -0.10 and a beta of 0.30. The company has a current ratio of 4.24, a quick ratio of 3.73 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $1.34 and a 200 day moving average of $2.33.

Beyond Air (NASDAQ:XAIR – Get Free Report) last posted its earnings results on Monday, November 10th. The company reported ($1.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.10) by ($0.15). Beyond Air had a negative return on equity of 261.08% and a negative net margin of 632.51%.The company had revenue of $1.82 million for the quarter, compared to analysts’ expectations of $2.54 million. On average, sell-side analysts expect that Beyond Air will post -0.79 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on XAIR shares. D. Boral Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Beyond Air in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Beyond Air in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Get Our Latest Report on Beyond Air

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in XAIR. Geode Capital Management LLC increased its position in shares of Beyond Air by 1.5% during the second quarter. Geode Capital Management LLC now owns 838,319 shares of the company’s stock valued at $144,000 after buying an additional 12,598 shares during the period. Alyeska Investment Group L.P. purchased a new position in Beyond Air during the third quarter valued at approximately $1,753,000. Wealth Effects LLC increased its holdings in Beyond Air by 42.5% during the 2nd quarter. Wealth Effects LLC now owns 278,100 shares of the company’s stock worth $48,000 after acquiring an additional 83,000 shares during the period. Osaic Holdings Inc. lifted its stake in Beyond Air by 26.4% in the 2nd quarter. Osaic Holdings Inc. now owns 162,560 shares of the company’s stock worth $29,000 after purchasing an additional 34,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Beyond Air in the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 31.50% of the company’s stock.

Beyond Air Company Profile

(Get Free Report)

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.

Read More