Airgain Secures Multi-Million-Dollar 5G Contract, Shares Drop as Earnings Loom
Airgain secured a multi-year, multi-million-dollar design win with a major North American MNO for a next-generation 5G fixed wireless router and Wi-Fi extender, with pre-production units shipping this quarter. Shares fell as investors await a Feb. 26 report forecasting a 4-cent EPS loss on $12.96 million revenue, down from $15.08 million.
1. Major 5G Design Win
Airgain has secured a multi-year, multi-million-dollar embedded antenna design win with a major North American MNO for a next-generation 5G fixed wireless access router and companion in-home Wi-Fi extender, with pre-production units slated to ship this quarter and expand its high-volume consumer broadband footprint.
2. Share Performance and Technical Indicators
Shares of Airgain have tumbled more than 22% over the past 12 months and fell 2.54% to $4.99 on Monday; the stock is trading 6.05% below its 20-day SMA, with a neutral RSI at 50 and a flat MACD indicating mixed momentum, and key support at $4.50 and resistance at $5.00.
3. Upcoming Earnings Forecast
Airgain is set to report Q4 earnings on February 26, with analysts forecasting a 4-cent per share loss and $12.96 million in revenue, down from $15.08 million year-over-year, while the consensus buy rating carries an average price target of $11.72 despite recent downward revisions.