BTIG Research Lowers Beyond Air (NASDAQ:XAIR) to Neutral

BTIG Research downgraded shares of Beyond Air (NASDAQ:XAIR) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports.

Separately, Truist Financial dropped their price objective on shares of Beyond Air from $10.00 to $8.00 and set a buy rating on the stock in a report on Tuesday, April 30th.

Beyond Air Stock Down 8.5 %

NASDAQ:XAIR opened at $0.58 on Tuesday. The company has a market cap of $26.63 million, a PE ratio of -0.34 and a beta of 0.01. Beyond Air has a twelve month low of $0.56 and a twelve month high of $4.75. The company has a current ratio of 3.39, a quick ratio of 3.26 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $1.20 and its two-hundred day moving average is $1.53.

Beyond Air (NASDAQ:XAIR) last released its earnings results on Monday, June 24th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.11. The company had revenue of $0.47 million for the quarter, compared to the consensus estimate of $0.71 million. Beyond Air had a negative net margin of 5,197.76% and a negative return on equity of 197.63%. During the same quarter in the previous year, the firm earned ($0.67) EPS. Analysts anticipate that Beyond Air will post -1.45 EPS for the current year.

Institutional Trading of Beyond Air

Several large investors have recently made changes to their positions in XAIR. Rosalind Advisors Inc. acquired a new position in shares of Beyond Air in the 1st quarter valued at $1,572,000. Gendell Jeffrey L lifted its stake in shares of Beyond Air by 30.4% in the 1st quarter. Gendell Jeffrey L now owns 1,461,071 shares of the company’s stock valued at $2,542,000 after purchasing an additional 340,774 shares during the period. Wealth Effects LLC lifted its stake in shares of Beyond Air by 27.6% in the 4th quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock valued at $870,000 after purchasing an additional 96,150 shares during the period. Vanguard Group Inc. lifted 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 purchasing an additional 66,224 shares during the period. Finally, DAVENPORT & Co LLC acquired a new position in shares of Beyond Air in the 4th quarter valued at $70,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

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.