Resonant (RESN) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Resonant (NASDAQ:RESN) in a report released on Friday morning. HC Wainwright currently has a $8.00 target price on the semiconductor company’s stock.

“We know Mike to be a huge Ferrari (RACE.IT; not rated) fan, and although we have never had the luxury of the experience, can broadly relate to the appeal probably best visualized in a scene from Ferris Buller’s Day Off, where a pair of parking attendants fly over a bump in the road at an apparent 180 mph in a legendary, convertible 1961 Ferrari GT California on a perfect Chicago spring day—that car is worth in the neighborhood of $11M now.”,” HC Wainwright’s analyst wrote.

Several other brokerages have also recently commented on RESN. Loop Capital initiated coverage on shares of Resonant in a research note on Thursday, June 21st. They issued a buy rating and a $11.00 price objective for the company. Zacks Investment Research cut shares of Resonant from a hold rating to a sell rating in a research note on Thursday, August 16th. Finally, National Securities reiterated a buy rating and issued a $8.00 price objective on shares of Resonant in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $7.50.

Shares of NASDAQ RESN opened at $4.14 on Friday. Resonant has a 52 week low of $3.17 and a 52 week high of $8.55. The stock has a market capitalization of $116.56 million, a P/E ratio of -3.41 and a beta of 1.04.

Resonant (NASDAQ:RESN) last announced its quarterly earnings data on Thursday, August 9th. The semiconductor company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. Resonant had a negative net margin of 4,330.47% and a negative return on equity of 83.23%. The firm had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $0.30 million. research analysts forecast that Resonant will post -0.78 EPS for the current fiscal year.

In other Resonant news, CFO Jeffrey A. Killian sold 5,269 shares of the firm’s stock in a transaction dated Tuesday, July 3rd. The shares were sold at an average price of $5.41, for a total transaction of $28,505.29. Following the completion of the transaction, the chief financial officer now directly owns 70,310 shares in the company, valued at approximately $380,377.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 13,400 shares of company stock valued at $67,697 over the last 90 days. 11.70% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Northern Trust Corp increased its holdings in Resonant by 122.2% during the 2nd quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock valued at $267,000 after acquiring an additional 26,076 shares in the last quarter. Sterling Capital Management LLC purchased a new position in Resonant during the 2nd quarter valued at about $282,000. BlackRock Inc. increased its holdings in Resonant by 107.5% during the 2nd quarter. BlackRock Inc. now owns 67,870 shares of the semiconductor company’s stock valued at $383,000 after acquiring an additional 35,159 shares in the last quarter. CVI Holdings LLC purchased a new position in Resonant during the 1st quarter valued at about $267,000. Finally, MYDA Advisors LLC purchased a new position in Resonant during the 2nd quarter valued at about $485,000. Hedge funds and other institutional investors own 20.24% of the company’s stock.

About Resonant

Resonant Inc, a late-stage development company, engages in the development of filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States. It uses Infinite Synthesized Networks technology to configure and connect resonators, the building blocks of RF filters.

Recommended Story: Tariff

Analyst Recommendations for Resonant (NASDAQ:RESN)

Receive News & Ratings for Resonant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resonant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply