Resonant (NASDAQ:RESN) Stock Rating Upgraded by Zacks Investment Research

Resonant (NASDAQ:RESN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, reports.

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 equities research analysts also recently issued reports on the company. Needham & Company LLC reduced their price target on Resonant from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Stifel Nicolaus started coverage on Resonant in a research report on Friday, February 28th. They set a “buy” rating and a $2.20 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $3.30.

Shares of NASDAQ RESN remained flat at $$1.50 during trading hours on Wednesday. The stock had a trading volume of 520,472 shares, compared to its average volume of 503,846. The company has a market cap of $78.67 million, a price-to-earnings ratio of -1.46 and a beta of 2.78. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.21. Resonant has a one year low of $0.95 and a one year high of $3.58. The company’s 50 day simple moving average is $1.52 and its two-hundred day simple moving average is $2.25.

Resonant (NASDAQ:RESN) last issued its quarterly earnings results on Tuesday, March 10th. The semiconductor company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.01. The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.35 million. Resonant had a negative return on equity of 217.33% and a negative net margin of 4,072.11%. On average, research analysts predict that Resonant will post -0.55 EPS for the current fiscal year.

In other news, major shareholder Longboard Capital Advisors, Ll sold 50,000 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $2.95, for a total value of $147,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 162,363 shares of company stock worth $457,227. Company insiders own 26.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in shares of Resonant in the 4th quarter valued at $29,000. Oxford Asset Management LLP bought a new position in shares of Resonant in the 4th quarter valued at $32,000. Sigma Planning Corp lifted its stake in shares of Resonant by 13.0% in the 4th quarter. Sigma Planning Corp now owns 282,750 shares of the semiconductor company’s stock valued at $684,000 after acquiring an additional 32,500 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Resonant in the 4th quarter valued at $307,000. Institutional investors own 6.36% of the company’s stock.

Resonant Company Profile

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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