HC Wainwright reissued their buy rating on shares of Resonant Inc. (NASDAQ:RESN) in a research report released on Thursday. They currently have a $8.00 target price on the semiconductor company’s stock.
RESN has been the topic of a number of other reports. Drexel Hamilton reiterated a buy rating and set a $8.00 price target on shares of Resonant in a research note on Thursday. Zacks Investment Research lowered 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 down $0.01 on Thursday, reaching $4.77. 64,300 shares of the company traded hands, compared to its average volume of 42,792. Resonant has a 12-month low of $3.82 and a 12-month high of $5.55.
Resonant (NASDAQ:RESN) last issued its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The company had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $0.10 million. Resonant had a negative net margin of 2,772.35% and a negative return on equity of 161.18%. equities analysts predict that Resonant will post -0.95 earnings per share for the current year.
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In other news, Director John E. Major bought 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were purchased at an average cost of $4.36 per share, for a total transaction of $87,200.00. Following the completion of the purchase, the director now owns 95,978 shares of the company’s stock, valued at $418,464.08. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 22.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. boosted its holdings in Resonant by 2.9% in 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 boosted its holdings in Resonant by 25.2% in the second 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 in the last quarter. Finally, Concert Wealth Management Inc. acquired a new position in Resonant in the second quarter valued at approximately $1,542,000. 4.45% of the stock is 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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