Analysts Set Resonant Inc (RESN) Price Target at $7.40
Shares of Resonant Inc (NASDAQ:RESN) have been given a consensus recommendation of “Buy” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $7.40.
Separately, Zacks Investment Research cut Resonant from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th.
In related news, Director John E. Major purchased 66,758 shares of the business’s stock in a transaction dated Monday, December 17th. The stock was acquired at an average price of $1.45 per share, for a total transaction of $96,799.10. Following the completion of the purchase, the director now directly owns 123,242 shares of the company’s stock, valued at $178,700.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 11.70% of the stock is owned by corporate insiders.
NASDAQ RESN traded down $0.15 on Tuesday, reaching $2.85. The stock had a trading volume of 322,617 shares, compared to its average volume of 399,416. Resonant has a 12-month low of $0.92 and a 12-month high of $6.32. The stock has a market cap of $73.87 million, a P/E ratio of -2.26 and a beta of 2.71.
Resonant (NASDAQ:RESN) last issued its quarterly earnings data on Thursday, March 14th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.06). Resonant had a negative net margin of 4,630.51% and a negative return on equity of 80.75%. The firm had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.10 million. Equities analysts predict that Resonant will post -0.89 EPS for the current 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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