TheStreetSweeper out negative on Airgain (AIRG)
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TheStreetSweeper out negative on Airgain (NASDAQ: AIRG).
The report highlighted:
*After hours Friday, with the stock price flying, the company registered nearly 3 million shares under employee incentive programs.
*Another 1 million in cheap stock options may be sold immediately.
*Another 5 million potentially dilutive shares will be unlocked in February.
*AIRG's own underwriter, Wunderlich, issued a "buy" rating two weeks ago then downgraded the stock to a "hold." The same day, its second underwriter, Northland, raised the PT by $5.
*AIRG had to pay $4 million for $1.4 million in sales.
*75% of antennas are sold in China to just two customers.
*Executives receive excellent compensation as they oversee net losses.
*AIRG went public about six weeks ago but the accumulated deficit has already soared to $45.7 million.
*AIRG is incredibly expensive at 38 times earnings!
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