Resonant Inc. (NASDAQ:RESN) received a $8.00 target price from analysts at HC Wainwright in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the semiconductor company’s stock. HC Wainwright’s target price would indicate a potential upside of 78.97% from the company’s previous close.
Separately, Zacks Investment Research cut Resonant from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.
Shares of Resonant (RESN) traded up 5.18% during trading on Thursday, reaching $4.47. The company had a trading volume of 28,897 shares. The firm’s 50 day moving average price is $4.59 and its 200 day moving average price is $4.57. The firm’s market capitalization is $65.70 million. Resonant has a 12 month low of $3.82 and a 12 month high of $5.55.
Resonant (NASDAQ:RESN) last announced its earnings results on Wednesday, August 9th. The semiconductor company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The company had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.10 million. Resonant had a negative net margin of 3,119.05% and a negative return on equity of 150.42%. Equities analysts predict that Resonant will post ($1.11) EPS for the current year.
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In other Resonant news, Director John E. Major purchased 20,000 shares of Resonant stock in a transaction on Tuesday, August 15th. The shares were bought at an average price of $4.36 per share, with a total value of $87,200.00. Following the purchase, the director now directly owns 95,978 shares in the company, valued at approximately $418,464.08. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 22.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Concert Wealth Management Inc. purchased a new position in shares of Resonant during the 2nd quarter worth $1,542,000. Leisure Capital Management lifted its stake in shares of Resonant by 25.2% during the 2nd quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 13,003 shares during the period. Finally, Westside Investment Management Inc. lifted its stake in shares of Resonant by 2.9% during the 2nd quarter. Westside Investment Management Inc. now owns 44,600 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 1,250 shares during the period. 5.07% of the stock is currently owned by institutional investors.
Resonant Company Profile
Resonant Inc is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband.
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