Resonant (NASDAQ:RESN) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Resonant (NASDAQ:RESN) from a buy rating to a hold rating in a research report sent to investors on Tuesday, January 9th.

According to Zacks, “Resonant Inc. is a development-stage company. It creates filter designs for radio frequency front-ends for the mobile device industry. The Company’s product configures resonators, the building blocks of RF filters to select desired radio frequency signals and reject unwanted signals. Resonant Inc. is based in Santa Barbara, California. “

A number of other research analysts have also weighed in on the stock. HC Wainwright set a $8.00 target price on shares of Resonant and gave the company a buy rating in a report on Thursday, January 4th. National Securities began coverage on shares of Resonant in a report on Tuesday, December 5th. They issued a buy rating and a $14.00 target price for the company. Finally, Drexel Hamilton reissued a buy rating and issued a $8.00 target price on shares of Resonant in a report on Thursday, November 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Resonant presently has an average rating of Buy and an average price target of $8.70.

Resonant (NASDAQ RESN) traded up $0.20 during midday trading on Tuesday, reaching $6.99. 169,917 shares of the company’s stock were exchanged, compared to its average volume of 251,891. Resonant has a 12 month low of $3.82 and a 12 month high of $8.55. The company has a market cap of $114.96, a PE ratio of -5.14 and a beta of 1.18.

Resonant (NASDAQ:RESN) last announced its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. Resonant had a negative net margin of 2,772.35% and a negative return on equity of 150.45%. sell-side analysts anticipate that Resonant will post -0.95 EPS for the current year.

In related news, VP Neal Fenzi sold 3,382 shares of Resonant stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $7.43, for a total value of $25,128.26. Following the completion of the sale, the vice president now directly owns 379,626 shares in the company, valued at $2,820,621.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Robert B. Hammond sold 5,000 shares of Resonant stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $7.40, for a total value of $37,000.00. Following the completion of the sale, the chief technology officer now owns 375,192 shares of the company’s stock, valued at $2,776,420.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,357 shares of company stock valued at $252,980. Corporate insiders own 22.30% of the company’s stock.

An institutional investor recently raised its position in Resonant stock. Stifel Financial Corp lifted its position in Resonant Inc (NASDAQ:RESN) by 195.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,000 shares of the semiconductor company’s stock after acquiring an additional 20,500 shares during the quarter. Stifel Financial Corp owned 0.18% of Resonant worth $137,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.15% of the company’s stock.

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Resonant Company Profile

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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