Shares of Resonant Inc (NASDAQ:RESN) have been given a consensus rating of “Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.20.
A number of analysts recently weighed in on the stock. National Securities reissued a “buy” rating and issued a $8.00 price objective on shares of Resonant in a research report on Monday, August 13th. Zacks Investment Research raised shares of Resonant from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. HC Wainwright set a $8.00 price objective on shares of Resonant and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Loop Capital assumed coverage on shares of Resonant in a research report on Thursday, June 21st. They issued a “buy” rating and a $11.00 price objective on the stock.
Shares of NASDAQ RESN opened at $3.12 on Friday. The stock has a market cap of $109.55 million, a PE ratio of -2.48 and a beta of 1.09. Resonant has a 12-month low of $2.45 and a 12-month high of $8.55.
Resonant (NASDAQ:RESN) last announced its earnings results on Thursday, August 9th. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.03. The firm had revenue of $0.12 million for the quarter, compared to analysts’ expectations of $0.30 million. Resonant had a negative net margin of 4,330.47% and a negative return on equity of 83.23%. As a group, sell-side analysts anticipate that Resonant will post -0.78 earnings per share for the current fiscal year.
In related news, CEO George B. Holmes sold 7,000 shares of the stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $3.69, for a total value of $25,830.00. Following the sale, the chief executive officer now directly owns 262,481 shares of the company’s stock, valued at approximately $968,554.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 17,005 shares of company stock worth $65,064 over the last three months. 11.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Northern Trust Corp grew its stake in Resonant by 122.2% in the 2nd quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock worth $267,000 after acquiring an additional 26,076 shares in the last quarter. Sterling Capital Management LLC bought a new position in Resonant in the 2nd quarter worth about $282,000. Baird Financial Group Inc. bought a new position in Resonant in the 2nd quarter worth about $3,341,000. MYDA Advisors LLC bought a new position in Resonant in the 2nd quarter worth about $485,000. Finally, ClariVest Asset Management LLC bought a new position in Resonant in the 2nd quarter worth about $1,008,000. 20.26% of the stock is currently owned by institutional investors.
Resonant Company Profile
Resonant Inc, a late-stage development company, engages in the development of filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States. It uses Infinite Synthesized Networks technology to configure and connect resonators, the building blocks of RF filters.
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