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

Zacks Investment Research cut shares of Resonant (NASDAQ:RESN) from a buy rating to a hold rating in a research report report published 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. “

RESN has been the subject of several other research reports. HC Wainwright restated a buy rating and issued a $8.00 price objective on shares of Resonant in a research report on Monday, September 18th. Drexel Hamilton restated a buy rating and issued a $8.00 price objective on shares of Resonant in a research report on Thursday, November 9th. Finally, National Securities began coverage on shares of Resonant in a research report on Tuesday, December 5th. They issued a buy rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Resonant has an average rating of Buy and a consensus target price of $8.70.

Resonant (NASDAQ:RESN) opened at $4.89 on Tuesday. Resonant has a one year low of $3.82 and a one year high of $8.55. The stock has a market cap of $91.46 and a P/E ratio of -3.57.

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

In other Resonant news, CFO Jeffrey A. Killian sold 4,395 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $7.21, for a total transaction of $31,687.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert B. Hammond sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $6.00, for a total transaction of $30,000.00. Following the sale, the insider now owns 372,019 shares of the company’s stock, valued at approximately $2,232,114. The disclosure for this sale can be found here. Insiders have sold a total of 35,357 shares of company stock valued at $252,980 in the last quarter. Corporate insiders own 22.30% of the company’s stock.

An institutional investor recently raised its position in Resonant stock. Westside Investment Management Inc. grew its position in Resonant Inc (NASDAQ:RESN) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 44,600 shares of the semiconductor company’s stock after buying an additional 1,250 shares during the period. Westside Investment Management Inc. owned approximately 0.30% of Resonant worth $217,000 at the end of the most recent quarter. Institutional investors own 5.14% of the company’s stock.

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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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