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.

Several institutional investors have recently added to or reduced their stakes in RESN. Two Sigma Investments LP purchased a new stake in shares of Resonant during the fourth quarter worth approximately $48,000. BlackRock Inc. raised its stake in shares of Resonant by 107.5% during the second quarter. BlackRock Inc. now owns 67,870 shares of the semiconductor company’s stock worth $383,000 after purchasing an additional 35,159 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Resonant during the fourth quarter worth approximately $45,000. Northern Trust Corp raised its stake in shares of Resonant by 122.2% during the second 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. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Resonant during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 9.32% of the company’s stock.

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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Analyst Recommendations for Resonant (NASDAQ:RESN)

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