Quantenna Comms (NASDAQ:QTNA) had its price objective reduced by research analysts at Roth Capital from $27.00 to $17.00 in a research report issued on Tuesday. The firm presently has a “buy” rating on the technology company’s stock. Roth Capital’s price target indicates a potential upside of 69.15% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the company. Barclays PLC reissued an “overweight” rating on shares of Quantenna Comms in a report on Friday, July 21st. Needham & Company LLC reissued a “buy” rating on shares of Quantenna Comms in a report on Tuesday, August 8th. Finally, Zacks Investment Research raised Quantenna Comms from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, July 11th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Quantenna Comms currently has an average rating of “Buy” and an average target price of $21.50.

Shares of Quantenna Comms (QTNA) traded down $4.82 during mid-day trading on Tuesday, reaching $10.05. The company had a trading volume of 4,828,735 shares, compared to its average volume of 196,606. Quantenna Comms has a 52-week low of $13.75 and a 52-week high of $25.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.77 and a quick ratio of 4.17.

Quantenna Comms (NASDAQ:QTNA) last issued its earnings results on Monday, August 7th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $47.10 million during the quarter, compared to the consensus estimate of $42.90 million. The firm’s quarterly revenue was up 42.7% compared to the same quarter last year. sell-side analysts predict that Quantenna Comms will post 0.01 earnings per share for the current fiscal year.

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In related news, SVP David William Carroll sold 8,500 shares of Quantenna Comms stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $17.63, for a total value of $149,855.00. Following the completion of the sale, the senior vice president now directly owns 45,600 shares in the company, valued at $803,928. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Lionel Bonnot sold 9,474 shares of Quantenna Comms stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $16.41, for a total value of $155,468.34. Following the completion of the sale, the senior vice president now owns 17,426 shares of the company’s stock, valued at $285,960.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,933 shares of company stock valued at $2,281,437. 22.62% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Creative Planning acquired a new stake in Quantenna Comms in the second quarter worth about $102,000. Nationwide Fund Advisors increased its position in Quantenna Comms by 537.5% in the second quarter. Nationwide Fund Advisors now owns 11,973 shares of the technology company’s stock worth $227,000 after purchasing an additional 10,095 shares during the period. Swiss National Bank acquired a new stake in Quantenna Comms in the second quarter worth about $262,000. The Manufacturers Life Insurance Company increased its position in Quantenna Comms by 326.3% in the second quarter. The Manufacturers Life Insurance Company now owns 17,784 shares of the technology company’s stock worth $337,000 after purchasing an additional 13,612 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Quantenna Comms in the second quarter worth about $362,000. Hedge funds and other institutional investors own 37.54% of the company’s stock.

About Quantenna Comms

Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.

Analyst Recommendations for Quantenna Comms (NASDAQ:QTNA)

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