Resonant (RESN) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Resonant (NASDAQ:RESN) from a buy rating to a hold rating in a research report sent to investors on Tuesday, January 9th.

According to Zacks, “Resonant Inc. is a development-stage company. It creates filter designs for radio frequency front-ends for the mobile device industry. The Company’s product configures resonators, the building blocks of RF filters to select desired radio frequency signals and reject unwanted signals. Resonant Inc. is based in Santa Barbara, California. “

Several other equities analysts have also issued reports on the company. National Securities started coverage on Resonant in a report on Tuesday, December 5th. They set a buy rating and a $14.00 price objective on the stock. HC Wainwright reaffirmed a buy rating and set a $8.00 price objective on shares of Resonant in a report on Thursday, November 9th. Finally, Drexel Hamilton reiterated a buy rating and set a $8.00 target price on shares of Resonant in a research note on Thursday, November 9th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Resonant presently has a consensus rating of Buy and a consensus price target of $8.70.

Resonant (NASDAQ:RESN) traded up $0.20 during trading hours on Tuesday, reaching $6.99. The company had a trading volume of 169,900 shares, compared to its average volume of 251,891. The stock has a market capitalization of $117.48, a price-to-earnings ratio of -5.14 and a beta of 1.18. Resonant has a 52-week low of $3.82 and a 52-week high of $8.55.

Resonant (NASDAQ:RESN) last posted its earnings results on Wednesday, November 8th. The semiconductor company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.01. Resonant had a negative return on equity of 150.45% and a negative net margin of 2,772.35%. equities research analysts forecast that Resonant will post -0.95 EPS for the current fiscal year.

In other Resonant news, CFO Jeffrey A. Killian sold 5,623 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $7.43, for a total value of $41,778.89. Following the completion of the transaction, the chief financial officer now directly owns 52,073 shares of the company’s stock, valued at $386,902.39. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Neal Fenzi sold 3,382 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $7.43, for a total transaction of $25,128.26. Following the completion of the transaction, the vice president now directly owns 379,626 shares of the company’s stock, valued at $2,820,621.18. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,357 shares of company stock valued at $252,980. 22.30% of the stock is owned by insiders.

An institutional investor recently raised its position in Resonant stock. Westside Investment Management Inc. lifted its holdings in shares of Resonant Inc (NASDAQ:RESN) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,600 shares of the semiconductor company’s stock after purchasing an additional 1,250 shares during the period. Westside Investment Management Inc. owned about 0.30% of Resonant worth $217,000 as of its most recent SEC filing. 5.15% of the stock is currently owned by institutional investors.

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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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