Shares of Resonant Inc (NASDAQ:RESN) have been assigned a consensus rating of “Buy” from the seven analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.20.
A number of brokerages have weighed in on RESN. National Securities restated a “buy” rating and issued a $8.00 price objective on shares of Resonant in a report on Monday, August 13th. HC Wainwright set a $8.00 price objective on shares of Resonant and gave the stock a “buy” rating in a report on Friday, August 10th. Finally, Zacks Investment Research upgraded shares of Resonant from a “sell” rating to a “hold” rating in a report on Thursday, October 11th.
Shares of NASDAQ RESN opened at $3.23 on Wednesday. Resonant has a 1 year low of $2.45 and a 1 year high of $8.55. The stock has a market cap of $91.74 million, a P/E ratio of -2.56 and a beta of 1.13.
Resonant (NASDAQ:RESN) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The business 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, research analysts forecast that Resonant will post -0.78 EPS for the current fiscal year.
In other Resonant news, CEO George B. Holmes sold 7,000 shares of the company’s 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 owns 262,481 shares in the company, valued at $968,554.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 17,005 shares of company stock worth $65,064. Corporate insiders own 22.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in RESN. Northern Trust Corp lifted its stake in shares of Resonant by 122.2% in the second quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock worth $267,000 after buying an additional 26,076 shares in the last quarter. Sterling Capital Management LLC bought a new position in shares of Resonant in the second quarter worth approximately $282,000. BlackRock Inc. lifted its stake in shares of Resonant by 107.5% in the second quarter. BlackRock Inc. now owns 67,870 shares of the semiconductor company’s stock worth $383,000 after buying an additional 35,159 shares in the last quarter. MYDA Advisors LLC bought a new position in shares of Resonant in the second quarter worth approximately $485,000. Finally, Sigma Planning Corp lifted its stake in shares of Resonant by 16.1% in the second quarter. Sigma Planning Corp now owns 136,200 shares of the semiconductor company’s stock worth $768,000 after buying an additional 18,900 shares in the last quarter. Institutional investors and hedge funds own 20.26% of the company’s stock.
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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