Shares of Resonant Inc (NASDAQ:RESN) have been given an average recommendation of “Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $8.20.
Several research analysts have recently issued reports on the company. Loop Capital assumed coverage on Resonant in a research report on Thursday, June 21st. They issued a “buy” rating and a $11.00 target price for the company. HC Wainwright set a $8.00 target price on Resonant and gave the stock a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research raised Resonant from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, National Securities reissued a “buy” rating and issued a $8.00 target price on shares of Resonant in a research report on Monday, August 13th.
In related news, CFO Jeffrey A. Killian sold 5,269 shares of the firm’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $5.41, for a total transaction of $28,505.29. Following the completion of the transaction, the chief financial officer now owns 70,310 shares of the company’s stock, valued at approximately $380,377.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 13,400 shares of company stock valued at $67,697. 22.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Institute for Wealth Management LLC. increased its position in Resonant by 3.7% during the 2nd quarter. Institute for Wealth Management LLC. now owns 484,565 shares of the semiconductor company’s stock valued at $2,733,000 after buying an additional 17,504 shares in the last quarter. Sigma Planning Corp increased its position in Resonant by 16.1% during the 2nd quarter. Sigma Planning Corp now owns 136,200 shares of the semiconductor company’s stock valued at $768,000 after buying an additional 18,900 shares in the last quarter. Northern Trust Corp increased its position in Resonant by 122.2% during the 2nd quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock valued at $267,000 after buying an additional 26,076 shares in the last quarter. BlackRock Inc. increased its position in Resonant by 107.5% during the 2nd quarter. BlackRock Inc. now owns 67,870 shares of the semiconductor company’s stock valued at $383,000 after buying an additional 35,159 shares in the last quarter. Finally, Sterling Capital Management LLC bought a new position in Resonant during the 2nd quarter valued at approximately $282,000. 20.24% of the stock is owned by institutional investors.
Shares of NASDAQ:RESN opened at $4.37 on Tuesday. Resonant has a 52-week low of $3.17 and a 52-week high of $8.55. The company has a market capitalization of $118.72 million, a PE ratio of -3.47 and a beta of 1.05.
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, topping the consensus estimate of ($0.18) by $0.03. Resonant had a negative return on equity of 83.23% and a negative net margin of 4,330.47%. The firm had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.30 million. research analysts expect that Resonant will post -0.78 earnings per share for the current fiscal year.
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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