Drexel Hamilton reaffirmed their buy rating on shares of Resonant Inc. (NASDAQ:RESN) in a research report released on Thursday morning. Drexel Hamilton currently has a $8.00 price target on the semiconductor company’s stock.
A number of other brokerages have also commented on RESN. HC Wainwright set a $8.00 price objective on Resonant and gave the company a buy rating in a research report on Wednesday, November 1st. Zacks Investment Research lowered Resonant from a buy rating to a hold rating in a report on Wednesday, July 12th.
Shares of Resonant (NASDAQ RESN) traded down $0.01 during mid-day trading on Thursday, hitting $4.77. The company’s stock had a trading volume of 64,300 shares, compared to its average volume of 42,792. Resonant has a 52 week low of $3.82 and a 52 week high of $5.55.
Resonant (NASDAQ:RESN) last issued its earnings results on Wednesday, August 9th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). Resonant had a negative return on equity of 161.18% and a negative net margin of 2,772.35%. The company had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.10 million. sell-side analysts expect that Resonant will post -0.95 earnings per share for the current fiscal year.
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In other news, Director John E. Major acquired 20,000 shares of Resonant stock in a transaction dated Tuesday, August 15th. The stock was bought at an average price of $4.36 per share, for a total transaction of $87,200.00. Following the completion of the acquisition, the director now directly owns 95,978 shares in the company, valued at approximately $418,464.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 22.30% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Westside Investment Management Inc. boosted its stake in shares of 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 buying an additional 1,250 shares during the period. Concert Wealth Management Inc. bought a new stake in shares of Resonant in the second quarter valued at approximately $1,542,000. Finally, Leisure Capital Management boosted its stake in shares of 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 buying an additional 13,003 shares during the period. Institutional investors and hedge funds own 4.45% of the company’s stock.
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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