Beyond Air Inc Down 34.49% To $1.33 After Earnings Miss

Tuesday, November 14, 2023 - Beyond Air Inc (XAIR) reported downside earnings and revenues today.

Wall Street earnings per share (EPS) projections for Beyond Air Inc were at a loss of $0.47 per share. The company missed those estimates with an EPS loss of $0.51 per share. The loss of $0.51 per share (which represents a -9% EPS surprise) led to the company's profits falling 28% compared to last year when the firm reported an EPS loss of $0.40 per share. The decline in Beyond Air Inc's annual growth rate represents how the business isn't performing well amid current economic conditions.

Consensus estimates for Beyond Air Inc revenue averaged out to $480 thousand, with the business missing on those expectations with reported second-quarter revenue of $239 thousand. The $241 thousand (50%) negative revenue surprise led to 0% growth year-over-year as the firm reported revenue of $0.00 in its year-ago quarter. The lower earnings growth compared to revenue points to Beyond Air Inc not being able to improve its profit margin.

The stock is down 34.49% to $1.33 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Beyond Air Inc a Bearish Sentiment Rank from InvestorsObserver.

Beyond Air Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 7, putting Beyond Air Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $1.93 on November 8, 2023 and set a 52-week high on February 6, 2023 at $7.74.

Beyond Air Inc is a clinical-stage medical device and biopharmaceutical company which develops a Nitric Oxide (NO) Generator and Delivery System that uses NO generated from ambient air and delivers precise amounts of NO to the lungs for the potential treatment of respiratory and other diseases. The firm is applying its therapeutic expertise to develop treatments for pulmonary hypertension, in addition to treatments for lower respiratory tract infections.