Resonant (RESN) Sees Large Volume Increase
Shares of Resonant Inc. (NASDAQ:RESN) saw unusually-strong trading volume on Thursday . Approximately 1,137,417 shares traded hands during trading, an increase of 1,267% from the previous session’s volume of 83,231 shares.The stock last traded at $7.11 and had previously closed at $6.00.
Several equities analysts have recently weighed in on RESN shares. HC Wainwright set a $8.00 price target on shares of Resonant and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research raised Resonant from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Tuesday, November 21st. Finally, Drexel Hamilton reissued a “buy” rating and issued a $8.00 price objective on shares of Resonant in a report on Thursday, November 9th.
In other news, insider Robert B. Hammond sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $6.00, for a total value of $30,000.00. Following the completion of the sale, the insider now owns 372,019 shares of the company’s stock, valued at approximately $2,232,114. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 22.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in RESN. Stifel Financial Corp lifted its holdings in Resonant by 195.2% during the 3rd 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 during the last quarter. Westside Investment Management Inc. lifted its holdings in Resonant by 2.9% during the 2nd 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 during the last quarter. Leisure Capital Management lifted its holdings in Resonant by 25.2% during the 2nd 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 during the last quarter. Finally, Concert Wealth Management Inc. acquired a new stake in Resonant during the 2nd quarter valued at $1,542,000. 5.04% of the stock is owned by institutional investors and hedge funds.
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Resonant Company Profile
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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