Beyond Air (NASDAQ:XAIR) Price Target Cut to $3.50

Beyond Air (NASDAQ:XAIRFree Report) had its price objective reduced by Piper Sandler from $7.00 to $3.50 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently commented on XAIR. BTIG Research downgraded shares of Beyond Air from a buy rating to a neutral rating in a research note on Tuesday. Truist Financial decreased their price target on shares of Beyond Air from $10.00 to $8.00 and set a buy rating on the stock in a research note on Tuesday, April 30th.

Get Our Latest Stock Analysis on XAIR

Beyond Air Trading Down 8.5 %

Shares of Beyond Air stock opened at $0.58 on Tuesday. Beyond Air has a 1 year low of $0.56 and a 1 year high of $4.75. The firm has a market cap of $26.63 million, a PE ratio of -0.34 and a beta of 0.01. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.39 and a quick ratio of 3.26. The company has a 50 day simple moving average of $1.20 and a two-hundred day simple moving average of $1.53.

Beyond Air (NASDAQ:XAIRGet Free Report) last announced its earnings results on Monday, June 24th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.11. Beyond Air had a negative net margin of 5,197.76% and a negative return on equity of 197.63%. The business had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.71 million. During the same period in the previous year, the business posted ($0.67) earnings per share. Analysts expect that Beyond Air will post -1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XAIR. Deutsche Bank AG increased its stake in shares of Beyond Air by 1.9% in the third quarter. Deutsche Bank AG now owns 407,565 shares of the company’s stock worth $941,000 after buying an additional 7,565 shares during the period. Scotia Capital Inc. purchased a new position in shares of Beyond Air in the third quarter worth $31,000. DAVENPORT & Co LLC purchased a new position in shares of Beyond Air in the fourth quarter worth $70,000. Wealth Effects LLC increased its stake in shares of Beyond Air by 27.6% in the fourth quarter. Wealth Effects LLC now owns 444,000 shares of the company’s stock worth $870,000 after buying an additional 96,150 shares during the period. Finally, Keel Point LLC purchased a new position in shares of Beyond Air in the fourth quarter worth $30,000. 31.50% of the stock is owned by hedge funds and other institutional investors.

Beyond Air Company Profile

(Get Free Report)

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.

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