Insider Selling: Resonant Inc. (RESN) Insider Sells $30,000.00 in Stock
Resonant Inc. (NASDAQ:RESN) insider Robert B. Hammond sold 5,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $6.00, for a total value of $30,000.00. Following the transaction, the insider now owns 372,019 shares in the company, valued at approximately $2,232,114. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Resonant Inc. (RESN) traded up $0.54 during mid-day trading on Friday, reaching $6.49. The company had a trading volume of 424,424 shares, compared to its average volume of 263,118. Resonant Inc. has a 12 month low of $3.82 and a 12 month high of $6.53.
Hedge funds have recently modified their holdings of the stock. Concert Wealth Management Inc. bought a new stake in Resonant during the second quarter valued at about $1,542,000. Westside Investment Management Inc. boosted its position in Resonant by 2.9% during the second quarter. Westside Investment Management Inc. now owns 44,600 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 1,250 shares in the last quarter. Stifel Financial Corp boosted its position in Resonant by 195.2% during the third quarter. Stifel Financial Corp now owns 31,000 shares of the semiconductor company’s stock valued at $137,000 after purchasing an additional 20,500 shares in the last quarter. Finally, Leisure Capital Management boosted its position in Resonant by 25.2% during the second quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock valued at $286,000 after purchasing an additional 13,003 shares in the last quarter. 4.61% of the stock is currently owned by institutional investors.
RESN has been the topic of several research reports. HC Wainwright set a $8.00 price target on Resonant and gave the company a “buy” rating in a research note on Thursday, August 10th. Drexel Hamilton restated a “buy” rating and set a $8.00 price target on shares of Resonant in a research note on Thursday, November 9th. Finally, Zacks Investment Research upgraded Resonant from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Tuesday.
Resonant Inc is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband.
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