Manatuck Hill Partners LLC Acquires New Position in Quantenna Communications Inc (QTNA)

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Manatuck Hill Partners LLC acquired a new position in Quantenna Communications Inc (NASDAQ:QTNA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 107,100 shares of the technology company’s stock, valued at approximately $1,664,000. Manatuck Hill Partners LLC owned approximately 0.29% of Quantenna Communications as of its most recent SEC filing.

A number of other large investors have also modified their holdings of QTNA. Needham Investment Management LLC purchased a new position in Quantenna Communications in the second quarter worth $194,000. Raymond James & Associates purchased a new position in Quantenna Communications in the second quarter worth $206,000. Trigran Investments Inc. grew its holdings in Quantenna Communications by 33.0% in the second quarter. Trigran Investments Inc. now owns 736,873 shares of the technology company’s stock worth $11,451,000 after purchasing an additional 182,719 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Quantenna Communications by 432.5% in the second quarter. Renaissance Technologies LLC now owns 294,500 shares of the technology company’s stock worth $4,577,000 after purchasing an additional 239,200 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new position in Quantenna Communications in the second quarter worth $185,000. 61.82% of the stock is owned by institutional investors.

QTNA has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on shares of Quantenna Communications in a report on Tuesday, May 22nd. They issued a “buy” rating and a $19.00 price target on the stock. Dougherty & Co initiated coverage on shares of Quantenna Communications in a report on Tuesday, May 15th. They issued a “buy” rating and a $20.00 price target on the stock. BidaskClub raised shares of Quantenna Communications from a “hold” rating to a “buy” rating in a report on Wednesday, June 13th. Deutsche Bank cut their price target on shares of Quantenna Communications from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Finally, Zacks Investment Research raised shares of Quantenna Communications from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $19.80.

Shares of QTNA opened at $18.48 on Thursday. The firm has a market cap of $674.26 million, a PE ratio of -924.00, a P/E/G ratio of 5.24 and a beta of 1.97. Quantenna Communications Inc has a 1-year low of $9.60 and a 1-year high of $19.41.

Quantenna Communications (NASDAQ:QTNA) last announced its quarterly earnings data on Monday, July 30th. The technology company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $53.40 million for the quarter, compared to analyst estimates of $51.97 million. Quantenna Communications had a net margin of 17.33% and a return on equity of 3.33%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. analysts predict that Quantenna Communications Inc will post 0.17 EPS for the current fiscal year.

In other news, Chairman Sam Heidari sold 26,125 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $16.06, for a total transaction of $419,567.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David William Carroll sold 1,521 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $16.66, for a total transaction of $25,339.86. Following the sale, the senior vice president now directly owns 62,754 shares in the company, valued at $1,045,481.64. The disclosure for this sale can be found here. Insiders have sold 89,514 shares of company stock worth $1,476,854 over the last three months. Corporate insiders own 13.49% of the company’s stock.

Quantenna Communications Profile

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.

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Institutional Ownership by Quarter for Quantenna Communications (NASDAQ:QTNA)

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