Analysts Set Resonant Inc (NASDAQ:RESN) Price Target at $5.60

Shares of Resonant Inc (NASDAQ:RESN) have been assigned an average rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $5.60.

Several equities research analysts have recently weighed in on the company. HC Wainwright decreased their price objective on 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 raised Resonant from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Needham & Company LLC set a $5.00 price objective on Resonant and gave the company a “buy” rating in a report on Wednesday, August 7th.

In other news, Director Michael J. Fox acquired 396,000 shares of the firm’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 completion of the acquisition, the director now owns 62,925 shares of the company’s stock, valued at $159,200.25. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 13,747 shares of company stock valued at $38,373 over the last three months. Corporate insiders own 26.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of Resonant by 142.2% during the second quarter. Morgan Stanley now owns 502,029 shares of the semiconductor company’s stock worth $1,194,000 after purchasing an additional 294,717 shares during the period. BlackRock Inc. lifted its holdings in shares of Resonant by 441.1% during the second quarter. BlackRock Inc. now owns 354,507 shares of the semiconductor company’s stock worth $843,000 after purchasing an additional 288,991 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of Resonant during the second quarter worth $199,000. Sigma Planning Corp lifted its holdings in shares of Resonant by 42.4% during the second quarter. Sigma Planning Corp now owns 248,250 shares of the semiconductor company’s stock worth $591,000 after purchasing an additional 73,900 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Resonant by 8.4% during the second quarter. Vanguard Group Inc. now owns 807,528 shares of the semiconductor company’s stock worth $1,922,000 after purchasing an additional 62,341 shares during the period. 10.72% of the stock is owned by institutional investors and hedge funds.

RESN stock opened at $3.10 on Friday. The company has a market capitalization of $96.30 million, a P/E ratio of -3.16 and a beta of 2.28. Resonant has a twelve month low of $0.92 and a twelve month high of $4.00. The business has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $2.77. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.20.

Resonant (NASDAQ:RESN) last posted its quarterly earnings data on Thursday, August 8th. The semiconductor company reported ($0.27) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.09). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.50 million. Resonant had a negative net margin of 6,314.32% and a negative return on equity of 137.94%. Research analysts predict that Resonant will post -0.83 EPS for the current fiscal year.

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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