Shares of Resonant Inc (NASDAQ:RESN) traded down 18.1% during mid-day trading on Tuesday . The company traded as low as $1.63 and last traded at $1.76, 709,032 shares traded hands during trading. An increase of 228% from the average session volume of 216,370 shares. The stock had previously closed at $2.15.
A number of analysts have commented on the company. Needham & Company LLC reissued a “buy” rating and set a $4.50 price objective on shares of Resonant in a report on Wednesday, November 6th. Zacks Investment Research cut Resonant from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Resonant in a report on Monday, October 14th.
The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $57.59 million, a PE ratio of -2.02 and a beta of 2.18. The stock’s fifty day simple moving average is $2.25 and its 200-day simple moving average is $2.57.
A number of institutional investors have recently modified their holdings of RESN. Private Advisor Group LLC grew its stake in Resonant by 34.8% in the 2nd quarter. Private Advisor Group LLC now owns 19,985 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 5,156 shares during the period. Vanguard Group Inc. increased its holdings in 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 buying an additional 62,341 shares during the last quarter. Sigma Planning Corp increased its holdings in 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 buying an additional 73,900 shares during the last quarter. BlackRock Inc. increased its holdings in 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 buying an additional 288,991 shares during the last quarter. Finally, Morgan Stanley raised its position in Resonant by 142.2% in the second quarter. Morgan Stanley now owns 502,029 shares of the semiconductor company’s stock worth $1,194,000 after acquiring an additional 294,717 shares during the period. Institutional investors and hedge funds own 10.52% of the company’s stock.
About Resonant (NASDAQ:RESN)
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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