Shares of Resonant Inc (NASDAQ:RESN) rose 6% during trading on Thursday . The company traded as high as $2.87 and last traded at $2.82, approximately 150,090 shares were traded during mid-day trading. A decline of 31% from the average daily volume of 218,238 shares. The stock had previously closed at $2.66.
RESN has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Resonant from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Craig Hallum reiterated a “buy” rating and issued a $4.00 price target (down previously from $5.00) on shares of Resonant in a research note on Thursday, May 9th. Needham & Company LLC set a $5.00 price target on shares of Resonant and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, HC Wainwright cut their price target on shares of Resonant from $8.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $5.60.
The business’s 50 day moving average price is $2.41 and its 200-day moving average price is $2.78. The company has a current ratio of 3.11, a quick ratio of 3.11 and a debt-to-equity ratio of 0.20. The company has a market cap of $88.89 million, a price-to-earnings ratio of -3.19 and a beta of 2.49.
Several hedge funds and other institutional investors have recently bought and sold shares of RESN. Private Advisor Group LLC grew its holdings in shares of Resonant by 34.8% during 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 last quarter. Bank of New York Mellon Corp bought a new stake in shares of Resonant during the 4th quarter valued at approximately $34,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Resonant during the 1st quarter valued at approximately $153,000. Leisure Capital Management grew its holdings in shares of Resonant by 4.5% during the 1st quarter. Leisure Capital Management now owns 79,575 shares of the semiconductor company’s stock valued at $239,000 after purchasing an additional 3,416 shares during the last quarter. Finally, Westside Investment Management Inc. bought a new stake in shares of Resonant during the 2nd quarter valued at approximately $199,000. Institutional investors own 10.16% of the company’s stock.
Resonant Company Profile (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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