HC Wainwright set a $8.00 target price on Resonant Inc. (NASDAQ:RESN) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the semiconductor company’s stock.
Separately, Zacks Investment Research cut shares of Resonant from a buy rating to a hold rating in a research note on Wednesday, July 12th.
Shares of Resonant (NASDAQ RESN) traded up $0.15 during trading on Wednesday, reaching $4.79. The company’s stock had a trading volume of 51,647 shares, compared to its average volume of 39,958. Resonant has a 52-week low of $3.82 and a 52-week high of $5.55.
Resonant (NASDAQ:RESN) last issued its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). The business had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.10 million. Resonant had a negative return on equity of 150.42% and a negative net margin of 3,119.05%. equities analysts forecast that Resonant will post -1.12 EPS for the current fiscal year.
In other news, Director John E. Major acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $4.36 per share, for a total transaction of $87,200.00. Following the transaction, the director now owns 95,978 shares in the company, valued at $418,464.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.30% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in RESN. Westside Investment Management Inc. raised its position in Resonant by 2.9% during the 2nd quarter. Westside Investment Management Inc. now owns 44,600 shares of the semiconductor company’s stock worth $217,000 after buying an additional 1,250 shares during the last quarter. Leisure Capital Management raised its position in Resonant by 25.2% during the 2nd quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock worth $286,000 after buying an additional 13,003 shares during the last quarter. Finally, Concert Wealth Management Inc. purchased a new position in Resonant during the 2nd quarter worth $1,542,000. Institutional investors own 5.06% 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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