Quantenna Communications Inc (NASDAQ:QTNA) has received an average recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.50.
Several research firms have recently commented on QTNA. Roth Capital decreased their price target on shares of Quantenna Communications from $27.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, November 7th. Needham & Company LLC cut their price objective on shares of Quantenna Communications from $26.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 7th. ValuEngine downgraded shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Barclays downgraded shares of Quantenna Communications to an “equal weight” rating in a research report on Tuesday, November 7th. Finally, Zacks Investment Research downgraded shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Friday, November 10th.
In related news, Chairman Sam Heidari sold 2,000 shares of Quantenna Communications stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $15.15, for a total value of $30,300.00. Following the sale, the chairman now directly owns 70,700 shares in the company, valued at approximately $1,071,105. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Lionel Bonnot sold 8,000 shares of Quantenna Communications stock in a transaction dated Tuesday, September 26th. The shares were sold at an average price of $15.99, for a total transaction of $127,920.00. Following the completion of the sale, the senior vice president now owns 25,184 shares in the company, valued at $402,692.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,578 shares of company stock worth $1,502,166. 22.62% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Creative Planning bought a new stake in shares of Quantenna Communications during the 2nd quarter worth about $102,000. Nationwide Fund Advisors raised its position in shares of Quantenna Communications by 537.5% during the 2nd quarter. Nationwide Fund Advisors now owns 11,973 shares of the technology company’s stock worth $227,000 after buying an additional 10,095 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of Quantenna Communications during the 3rd quarter worth about $227,000. Swiss National Bank bought a new stake in shares of Quantenna Communications during the 2nd quarter worth about $262,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Quantenna Communications by 326.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,784 shares of the technology company’s stock worth $337,000 after buying an additional 13,612 shares in the last quarter. Institutional investors own 37.84% of the company’s stock.
Quantenna Communications (QTNA) traded down $0.20 during midday trading on Thursday, hitting $11.60. 170,368 shares of the stock traded hands, compared to its average volume of 339,218. Quantenna Communications has a 1-year low of $9.60 and a 1-year high of $25.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.06 and a quick ratio of 3.51. The firm has a market cap of $420.89, a price-to-earnings ratio of 119.50 and a beta of 3.75.
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About Quantenna Communications
Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.
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