Shares of Resonant Inc (NASDAQ:RESN) have been assigned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $5.60.

RESN has been the subject of a number of research analyst reports. HC Wainwright dropped their target price on shares of Resonant from $8.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Zacks Investment Research cut shares of Resonant from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Finally, Needham & Company LLC set a $5.00 target price on shares of Resonant and gave the company a “buy” rating in a report on Wednesday, August 7th.

Resonant stock traded down $0.12 during mid-day trading on Wednesday, reaching $3.02. The company had a trading volume of 89,268 shares, compared to its average volume of 218,266. Resonant has a 1 year low of $0.92 and a 1 year high of $4.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.11 and a quick ratio of 3.11. The company has a market capitalization of $90.35 million, a P/E ratio of -3.08 and a beta of 2.28. The stock’s 50-day simple moving average is $2.84 and its 200-day simple moving average is $2.77.

Resonant (NASDAQ:RESN) last issued its earnings results on Thursday, August 8th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.09). Resonant had a negative net margin of 6,314.32% and a negative return on equity of 137.94%. The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.50 million. On average, equities analysts forecast that Resonant will post -0.83 EPS for the current fiscal year.

In other Resonant news, Director Michael J. Fox acquired 396,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average cost of $2.53 per share, with a total value of $1,001,880.00. Following the purchase, the director now directly owns 62,925 shares in the company, valued at approximately $159,200.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 14,323 shares of company stock valued at $35,998. Corporate insiders own 26.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in RESN. Private Advisor Group LLC boosted its position in Resonant by 34.8% during the second quarter. Private Advisor Group LLC now owns 19,985 shares of the semiconductor company’s stock worth $48,000 after acquiring an additional 5,156 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Resonant by 89,800.0% in the 4th quarter. Deutsche Bank AG now owns 89,900 shares of the semiconductor company’s stock valued at $119,000 after purchasing an additional 89,800 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in shares of Resonant in the 1st quarter valued at $153,000. Westside Investment Management Inc. acquired a new position in shares of Resonant in the 2nd quarter valued at $199,000. Finally, Leisure Capital Management boosted its holdings in shares of Resonant by 4.5% in the 1st quarter. Leisure Capital Management now owns 79,575 shares of the semiconductor company’s stock valued at $239,000 after purchasing an additional 3,416 shares during the last quarter. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Resonant Company Profile

Resonant Inc, a late-stage development company, designs and develops filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States. It uses Infinite Synthesized Networks technology, a software platform that is used 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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