Quantenna Comms (QTNA) Price Target Cut to $20.00
Quantenna Comms (NASDAQ:QTNA) had its price objective decreased by Needham & Company LLC from $26.00 to $20.00 in a report issued on Tuesday, Marketbeat Ratings reports. Needham & Company LLC currently has a strong-buy rating on the technology company’s stock.
A number of other equities analysts have also commented on QTNA. Barclays PLC lowered their price target on shares of Quantenna Comms from $23.00 to $21.00 and set an overweight rating on the stock in a research report on Tuesday, August 8th. Zacks Investment Research raised shares of Quantenna Comms from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $21.50.
Quantenna Comms (QTNA) traded up $0.15 during trading hours on Tuesday, reaching $12.02. 698,300 shares of the company were exchanged, compared to its average volume of 328,955. Quantenna Comms has a 1-year low of $9.60 and a 1-year high of $25.45. The company has a market capitalization of $418.07 and a price-to-earnings ratio of 118.70. The company has a current ratio of 4.06, a quick ratio of 4.17 and a debt-to-equity ratio of 0.01.
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In other Quantenna Comms news, SVP Lionel Bonnot sold 5,500 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $10.72, for a total transaction of $58,960.00. Following the sale, the senior vice president now directly owns 22,684 shares in the company, valued at $243,172.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Sam Heidari sold 2,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $15.15, for a total transaction of $30,300.00. Following the sale, the chairman now owns 70,700 shares in the company, valued at $1,071,105. The disclosure for this sale can be found here. Insiders have sold 138,433 shares of company stock worth $2,340,397 over the last quarter. Corporate insiders own 22.62% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of Quantenna Comms by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,035 shares in the last quarter. Creative Planning acquired a new stake in shares of Quantenna Comms in the 2nd quarter valued at approximately $102,000. Pier Capital LLC boosted its stake in shares of Quantenna Comms by 2.8% in the 2nd quarter. Pier Capital LLC now owns 216,656 shares of the technology company’s stock valued at $4,116,000 after purchasing an additional 5,968 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of Quantenna Comms by 28.9% in the 3rd quarter. Citadel Advisors LLC now owns 42,746 shares of the technology company’s stock valued at $719,000 after purchasing an additional 9,589 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Quantenna Comms by 537.5% in the 2nd quarter. Nationwide Fund Advisors now owns 11,973 shares of the technology company’s stock valued at $227,000 after purchasing an additional 10,095 shares in the last quarter. Institutional investors own 37.54% of the company’s stock.
Quantenna Comms Company Profile
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.
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