Resonant Inc. (NASDAQ:RESN) Expected to Announce Quarterly Sales of $600,000.00

Wall Street brokerages forecast that Resonant Inc. (NASDAQ:RESN) will report $600,000.00 in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Resonant’s earnings. Resonant posted sales of $1.41 million in the same quarter last year, which suggests a negative year over year growth rate of 57.4%. The company is expected to issue its next quarterly earnings results on Tuesday, November 9th.

According to Zacks, analysts expect that Resonant will report full-year sales of $4.55 million for the current fiscal year, with estimates ranging from $4.30 million to $4.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $17.00 million, with estimates ranging from $15.00 million to $19.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Resonant.

Resonant (NASDAQ:RESN) last released its quarterly earnings data on Wednesday, August 11th. The semiconductor company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. Resonant had a negative net margin of 961.22% and a negative return on equity of 138.45%.

A number of research analysts have recently issued reports on the company. Benchmark assumed coverage on Resonant in a research report on Tuesday, July 27th. They set a “buy” rating and a $6.00 target price on the stock. Zacks Investment Research downgraded Resonant from a “hold” rating to a “sell” rating in a research note on Friday, August 20th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $6.00 target price on shares of Resonant in a research note on Wednesday, July 28th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Resonant currently has an average rating of “Buy” and a consensus price target of $5.65.

NASDAQ RESN traded up $0.04 during trading hours on Friday, reaching $2.56. The stock had a trading volume of 16,202 shares, compared to its average volume of 1,561,438. The stock has a fifty day moving average of $2.79 and a 200 day moving average of $3.39. The stock has a market cap of $161.34 million, a P/E ratio of -4.67 and a beta of 2.18. Resonant has a 52-week low of $2.09 and a 52-week high of $8.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.25 and a current ratio of 4.25.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RESN. Advisor Group Holdings Inc. boosted its position in Resonant by 11.2% during the second quarter. Advisor Group Holdings Inc. now owns 38,673 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 3,905 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Resonant by 16.5% in the first quarter. The Manufacturers Life Insurance Company now owns 29,920 shares of the semiconductor company’s stock valued at $127,000 after acquiring an additional 4,227 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Resonant in the first quarter valued at $32,000. Caxton Associates LP acquired a new position in Resonant in the first quarter valued at $45,000. Finally, Boothbay Fund Management LLC acquired a new position in Resonant in the second quarter valued at $35,000. 24.59% of the stock is currently owned by institutional investors.

Resonant Company Profile

Resonant, Inc engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. It focuses on developing its software platform, Infinite Synthesized Networks. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Austin, TX.

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