Resonant’s (RESN) Buy Rating Reiterated at HC Wainwright
Resonant Inc. (NASDAQ:RESN)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a note issued to investors on Thursday. They presently have a $8.00 price target on the semiconductor company’s stock. HC Wainwright’s price target indicates a potential upside of 72.04% from the company’s current price.
Other research analysts also recently issued reports about the stock. Drexel Hamilton reaffirmed a “buy” rating and set a $8.00 price objective on shares of Resonant in a research report on Thursday. Zacks Investment Research downgraded shares of Resonant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
Resonant (NASDAQ:RESN) remained flat at $$4.65 during mid-day trading on Thursday. 38,380 shares of the company traded hands, compared to its average volume of 30,809. Resonant has a 12-month low of $3.82 and a 12-month high of $5.55.
Resonant (NASDAQ:RESN) last released its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). Resonant had a negative net margin of 3,119.05% and a negative return on equity of 150.42%. The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.10 million. equities research analysts forecast that Resonant will post -1.12 earnings per share for the current fiscal year.
In related news, Director John E. Major acquired 20,000 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $4.36 per share, with a total value of $87,200.00. Following the completion of the transaction, the director now owns 95,978 shares of the company’s stock, valued at approximately $418,464.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 22.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. grew its position in Resonant by 2.9% during the second 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 in the last quarter. Leisure Capital Management grew its position in Resonant by 25.2% in the second quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 13,003 shares in the last quarter. Finally, Concert Wealth Management Inc. bought a new stake in Resonant in the second quarter worth approximately $1,542,000. 4.45% of the stock is currently owned by hedge funds and other institutional investors.
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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