Shares of Resonant Inc (NASDAQ:RESN) have been given an average recommendation of “Buy” by the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.20.
A number of analysts have weighed in on RESN shares. National Securities reaffirmed a “buy” rating and issued a $8.00 price target on shares of Resonant in a research report on Monday, August 13th. Zacks Investment Research raised Resonant from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. HC Wainwright set a $8.00 price target on Resonant and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Loop Capital started coverage on Resonant in a research report on Thursday, June 21st. They issued a “buy” rating and a $11.00 price target for the company.
In related news, CEO George B. Holmes sold 7,000 shares of the business’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $3.69, for a total transaction of $25,830.00. Following the completion of the transaction, the chief executive officer now owns 262,481 shares of the company’s stock, valued at approximately $968,554.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 17,005 shares of company stock valued at $65,064 in the last ninety days. Insiders own 11.70% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp lifted its position in shares of Resonant by 122.2% during the 2nd quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock worth $267,000 after purchasing an additional 26,076 shares during the last quarter. Sterling Capital Management LLC acquired a new position in shares of Resonant during the 2nd quarter worth about $282,000. Baird Financial Group Inc. acquired a new position in shares of Resonant during the 2nd quarter worth about $3,341,000. MYDA Advisors LLC acquired a new position in shares of Resonant during the 2nd quarter worth about $485,000. Finally, ClariVest Asset Management LLC acquired a new position in shares of Resonant during the 2nd quarter worth about $1,008,000. 20.26% of the stock is owned by institutional investors and hedge funds.
NASDAQ RESN traded down $0.16 on Friday, reaching $3.09. The stock had a trading volume of 3,254 shares, compared to its average volume of 305,100. Resonant has a 1 year low of $2.45 and a 1 year high of $8.55. The company has a market capitalization of $109.55 million, a P/E ratio of -2.59 and a beta of 1.09.
Resonant (NASDAQ:RESN) last issued its earnings results on Thursday, August 9th. The semiconductor company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $0.30 million. On average, equities research analysts forecast that Resonant will post -0.78 EPS for the current fiscal year.
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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