Resonant Inc. (RESN) Director John E. Major Buys 20,000 Shares
Resonant Inc. (NASDAQ:RESN) Director John E. Major acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $4.36 per share, for a total transaction of $87,200.00. Following the completion of the transaction, the director now owns 95,978 shares in the company, valued at approximately $418,464.08. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Resonant Inc. (NASDAQ:RESN) traded up 0.24% during mid-day trading on Wednesday, hitting $4.23. The stock had a trading volume of 38,438 shares. The stock’s market cap is $62.17 million. Resonant Inc. has a 52-week low of $3.82 and a 52-week high of $6.76. The company’s 50 day moving average is $4.63 and its 200-day moving average is $4.66.
Resonant (NASDAQ:RESN) last issued its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.03. The business had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.10 million. Resonant had a negative net margin of 3,119.05% and a negative return on equity of 150.42%. On average, equities research analysts anticipate that Resonant Inc. will post ($1.23) earnings per share for the current fiscal year.
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A number of analysts have recently commented on the company. HC Wainwright set a $8.00 price target on Resonant and gave the stock a “buy” rating in a research report on Thursday, August 10th. Rodman & Renshaw assumed coverage on Resonant in a research report on Tuesday, April 25th. They issued a “buy” rating and a $8.00 price target on the stock. Zacks Investment Research raised Resonant from a “hold” rating to a “buy” rating and set a $5.25 price target on the stock in a research report on Wednesday, June 28th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $8.00 price target on shares of Resonant in a research report on Friday, June 23rd.
A number of large investors have recently made changes to their positions in RESN. Leisure Capital Management increased its stake in shares of Resonant by 25.2% in the second quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock valued at $286,000 after buying an additional 13,003 shares during the period. Concert Wealth Management Inc. purchased a new stake in shares of Resonant during the second quarter valued at $1,542,000. Finally, Westside Investment Management Inc. increased its stake in shares of Resonant by 2.9% in the second quarter. Westside Investment Management Inc. now owns 44,600 shares of the semiconductor company’s stock valued at $217,000 after buying an additional 1,250 shares during the period. Institutional investors own 2.82% of the company’s stock.
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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