Shares of Resonant Inc (NASDAQ:RESN) have been given a consensus recommendation of “Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $8.20.
RESN has been the topic of several recent research reports. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of Resonant in a research report on Friday, September 21st. Zacks Investment Research downgraded shares of Resonant from a “hold” rating to a “sell” rating in a research report on Thursday, August 16th. Finally, National Securities reiterated a “buy” rating and issued a $8.00 price target on shares of Resonant in a research report on Monday, August 13th.
RESN opened at $3.23 on Wednesday. Resonant has a 1-year low of $2.45 and a 1-year high of $8.55. The company has a market capitalization of $91.74 million, a price-to-earnings ratio of -2.56 and a beta of 1.13.
In other Resonant news, CEO George B. Holmes sold 7,000 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $3.69, for a total value of $25,830.00. Following the transaction, the chief executive officer now directly owns 262,481 shares in the company, valued at $968,554.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 17,005 shares of company stock worth $65,064 over the last quarter. Insiders own 22.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC bought a new position in Resonant in the second quarter worth approximately $282,000. MYDA Advisors LLC purchased a new stake in shares of Resonant in the second quarter worth $485,000. Baird Financial Group Inc. purchased a new stake in shares of Resonant in the second quarter worth $3,341,000. ClariVest Asset Management LLC purchased a new stake in shares of Resonant in the second quarter worth $1,008,000. Finally, Hood River Capital Management LLC purchased a new stake in shares of Resonant in the second quarter worth $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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