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SAN DIEGO—Arthur M. Toscanini, a director at Airgain Inc . (NASDAQ:AIRG), recently sold a total of 10,347 shares of the company’s common stock over two consecutive days, according to a filing with the Securities and Exchange Commission. The shares were sold at a price of $4.05 each, amounting to a total transaction value of $41,905. The transaction comes as Airgain’s stock has declined over 53% in the past six months, though InvestingPro analysis suggests the stock is currently undervalued.
On May 22, Toscanini sold 5,535 shares, and on May 23, an additional 4,812 shares were sold. These transactions reduced his total shareholding from 95,491 to 89,956 shares, including Restricted Stock Units as noted in the filing. The company, currently valued at $48.47 million, maintains a strong liquidity position with more cash than debt on its balance sheet.
In addition to the sales, Toscanini exercised stock options to acquire 10,347 shares at a price of $1.60 per share on the same days. The total value of the options exercised amounted to $16,555. These options were part of the 2013 Equity Incentive Plan and were fully vested and exercisable.
The transactions were executed without any equity swap involvement, and the shares were acquired and disposed of directly by Toscanini.
In other recent news, Airgain Inc. reported its first-quarter 2025 earnings, revealing a notable shortfall in both earnings and revenue. The company posted an earnings per share (EPS) of -$0.11, missing the forecasted -$0.06, while revenue came in at $12 million, below the anticipated $14.8 million. Despite these results, Airgain remains optimistic about a sales rebound in the second quarter, projecting revenues between $12.5 million and $14.5 million. The company continues its strategic shift towards high-value wireless solutions, with a focus on its AirgainConnect and Lighthouse platforms. Analysts from firms like Craig Hallum and ROTH Capital have shown interest in the company’s developments, particularly regarding the expected growth in their enterprise market and the ongoing trials of the Lighthouse product in various regions. Airgain’s gross margin has seen a fifth consecutive quarterly increase, reaching 44.3%, which underscores the company’s efforts to improve its financial performance despite current challenges. The company is also planning to maintain financial flexibility by updating its S3 shelf registration, reflecting prudent corporate governance. These developments indicate Airgain’s ongoing efforts to stabilize and grow its business in a challenging economic environment.
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