Beyond Air, Inc. (XAIR:NSD) experienced a surge in short interest in April, according to recent reports. As of April 30th, short interest had grown to 2,170,000 shares, an increase of 26.9% from the April 15th total of 1,710,000 shares. With an average daily trading volume of 353,200 XAIR stock shares, this represents a short-interest ratio of 6.1 days.
In other news, Beyond Air’s Chief Operating Officer (COO), Michael A. Gaul, purchased 8,000 shares of the company’s stock on March 7th, at an average cost of $5.86 per share. Following the transaction, Gaul now holds 72,150 shares of XAIR stock, valued at approximately $422,799.
Meanwhile, CEO Steven A. Lisi bought 10,000 shares of the XAIR stock on March 17th at an average cost of $6.46 per share. After the transaction, Lisi holds 1,458,696 shares of the company’s stock, valued at $9,423,176.16.
Hedge Funds & Institutional Holdings:
Beyond Air has also attracted the attention of hedge funds and institutional investors. Mitchell Mcleod Pugh & Williams Inc. purchased a new position in the company’s shares in the 3rd quarter, worth approximately $163,000.
Tower Research Capital LLC TRC purchased a new position in shares of Beyond Air in the 1st quarter, worth around $76,000.
Additionally, hedge fund Knott David M Jr increased its stake in Beyond Air by 21.3% during the 1st quarter, owning 121,300 shares worth $819,000.
Other institutional investors, including Powell Investment Advisors LLC and Coombe Bender & Co LLC, also purchased new positions in the company during the 1st quarter. In total, hedge funds and institutional investors own 19.05% of XAIR stock.
XAIR Stock Price Analysis:
Beyond Air opened at $5.57 on Friday, with a 50-day moving average price of $6.17 and a 200-day moving average price of $6.26. The company has a market capitalization of $167.61 million, a P/E ratio of -2.89, and a beta of -0.32. Beyond Air’s 52-week low is $4.78 and its 52-week high is $11.76.
Quarterly Earnings Review:
On February 9th, Beyond Air last released its quarterly earnings report, with the company reporting earnings per share (EPS) of ($0.43) for the quarter, missing analysts’ consensus estimates by ($0.01). Analysts estimate that Beyond Air will post earnings per share of -1.63 for the current year.
Beyond Air, Inc. operates as a commercial medical device and biopharmaceutical company. The company engages in the development of the LungFit platform, a nitric oxide generator, and a delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension in newborns.
The company was formerly known as AIT Therapeutics, Inc. and changed its name to Beyond Air, Inc. in June 2019. Beyond Air, Inc. is based in Garden City, New York.