SSgA Funds Management, Inc. recently announced the acquisition of new stake in Airspan Networks Holdings Inc. (AMEX:MIMO). The institutional investor has increased its shareholding in the Communication Services company by 322.74% to 0.31 million shares with purchase of 0.23 million shares. This fresh investment now brings its stake to 0.41% valued currently at $41560.0. In addition, Cubist Systematic Strategies LLC raised its holdings by 80476.0 to 80476.0 shares.
With over 26.59 million Airspan Networks Holdings Inc. (MIMO) shares trading Friday and a closing price of $0.13 on the day, the dollar volume was approximately $3.46 million. The shares have shown a negative half year performance of -89.05% and its price on 09/15/23 gained nearly 3.93%. Currently, there are 74.58M common shares owned by the public and among those 57.38M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for MIMO have a consensus price objective of $0.50. The analysts have set the share’s price value over the next 12 months at a high of $0.50 and a low of $0.50. But an upside of 74.0% will see the stock hit the forecast high price target while median target price for the stock is $0.50.
Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 35 occasions, with total insider shares sold totaling 301,928 shares.
The top 3 mutual fund holders in Airspan Networks Holdings Inc. are Vanguard Total Stock Market ETF, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market ETF owns 0.61 million shares of the company’s stock, all valued at over $83625.0. Fidelity Extended Market Index Fu now owns shares totaling to 0.20% of the shares outstanding.
Shares of Airspan Networks Holdings Inc. (AMEX: MIMO) opened at $0.13, up $0.01 from a prior closing price of $0.12. However, the script later moved the day high at 0.2369, up 3.93%. The company’s stock has a 5-day price change of -4.94% and -15.39% over the past three months. MIMO shares are trading -90.31% year to date (YTD), with the 12-month market performance down to -95.12% lower. It has a 12-month low price of $0.12 and touched a high of $3.39 over the same period. MIMO has an average intraday trading volume of 3.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.69%, -16.83%, and -81.78% respectively.
Institutional ownership of Airspan Networks Holdings Inc. (AMEX: MIMO) shares accounts for 48.10% of the company’s 74.58M shares outstanding. Mutual fund holders own 2.39%, while other institutional holders and individual stakeholders account for 45.57% and 1.68% respectively.
It has a market capitalization of $9.10M and a beta (3y monthly) value of 0.38. The earnings-per-share (ttm) stands at -$1.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 27.31% over the week and 12.99% over the month.
Analysts forecast that Airspan Networks Holdings Inc. (MIMO) will achieve an EPS of -$0.27 for the current quarter, -$0.24 for the next quarter and -$0.9 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.27 while analysts give the company a high EPS estimate of -$0.27. Comparatively, EPS for the current quarter was -$0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.30%, and 18.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Airspan Networks Holdings Inc. (MIMO) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the MIMO, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on March 25, 2022, with the firm’s price target at $9-$4.75.
