Resonant (NASDAQ:RESN) Rating Reiterated by HC Wainwright
Resonant (NASDAQ:RESN)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday, September 21st. They currently have a $8.00 price objective on the semiconductor company’s stock. HC Wainwright’s price objective would suggest a potential upside of 156.41% from the stock’s current price.
The analysts wrote, “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.””
RESN has been the subject of a number of other research reports. Zacks Investment Research cut Resonant from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. National Securities reiterated a “buy” rating and set a $8.00 price objective on shares of Resonant in a research report on Monday, August 13th. Finally, Loop Capital started coverage on Resonant in a research report on Thursday, June 21st. They set a “buy” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $7.50.
Resonant (NASDAQ:RESN) last released its earnings results on Thursday, August 9th. The semiconductor company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The business had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.30 million. Resonant had a negative return on equity of 83.23% and a negative net margin of 4,330.47%. On average, research analysts predict that Resonant will post -0.78 EPS for the current year.
In other Resonant news, CEO George B. Holmes sold 7,000 shares of the company’s stock in a transaction dated Tuesday, October 2nd. The stock was sold at an average price of $3.69, for a total value of $25,830.00. Following the completion of the sale, the chief executive officer now owns 262,481 shares in the company, valued at $968,554.89. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders sold 17,005 shares of company stock valued at $65,064. Company insiders own 11.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC bought a new position in shares of Resonant in the second quarter worth about $282,000. MYDA Advisors LLC bought a new position in shares of Resonant in the second quarter worth about $485,000. Baird Financial Group Inc. bought a new position in shares of Resonant in the second quarter worth about $3,341,000. ClariVest Asset Management LLC bought a new position in shares of Resonant in the second quarter worth about $1,008,000. Finally, Hood River Capital Management LLC bought a new position in shares of Resonant in the second quarter worth about $7,257,000. Institutional investors and hedge funds own 20.26% of the company’s stock.
Resonant Company Profile
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.
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