Beyond Air Inc [NASDAQ: XAIR] plunged by $0.0 during the normal trading session on while it closed the day at $1.74. The company report on March 20, 2024 at 9:00 AM that Beyond Air® Announces Pricing of $16.0 Million Registered Direct Offering of Common Stock and Warrants.
The gross proceeds to the Company from this offering are expected to be approximately $16.0 million before deducting the placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering to fund commercial sales development, research, working capital, and other general corporate purposes.
Beyond Air Inc stock has also gained 6.75% of its value over the past 7 days. However, XAIR stock has declined by -19.82% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.40% and lost -11.22% year-on date.
The market cap for XAIR stock reached $62.71 million, with 30.74 million shares outstanding and 27.78 million shares in the current float. Compared to the average trading volume of 341.65K shares, XAIR reached a trading volume of 125429 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Beyond Air Inc [XAIR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for XAIR shares is $13.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on XAIR stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for Beyond Air Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 28, 2023. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on June 15, 2023, representing the official price target for Beyond Air Inc stock. Previously, the target price had yet another raise to $12, while Truist analysts kept a Buy rating on XAIR stock.
The Average True Range (ATR) for Beyond Air Inc is set at 0.15, with the Price to Sales ratio for XAIR stock in the period of the last 12 months amounting to 90.88. The Price to Book ratio for the last quarter was 2.97, with the Price to Cash per share for the same quarter was set at 0.87.
XAIR stock trade performance evaluation
Beyond Air Inc [XAIR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.75. With this latest performance, XAIR shares dropped by -15.12% in over the last four-week period, additionally sinking by -30.40% over the last 6 months – not to mention a drop of -72.27% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for XAIR stock in for the last two-week period is set at 51.83, with the RSI for the last a single of trading hit 55.36, and the three-weeks RSI is set at 50.60 for Beyond Air Inc [XAIR]. The present Moving Average for the last 50 days of trading for this stock 1.7184, while it was recorded at 1.6940 for the last single week of trading, and 2.5157 for the last 200 days.
Beyond Air Inc [XAIR]: An insightful look at the core fundamentals
Beyond Air Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.26 and a Current Ratio set at 3.39.
Earnings per share (EPS) analysis for Beyond Air Inc [XAIR] stock
With the latest financial reports released by the company, Beyond Air Inc posted -0.67/share EPS, while the average EPS was predicted by analysts to be reported at -0.47/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -42.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for XAIR.
Beyond Air Inc [XAIR]: Institutional Ownership
The top three institutional holders of XAIR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in XAIR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in XAIR stock with ownership which is approximately 5.8325%.
