Resonant (NASDAQ:RESN) Stock Price Down 18.1%

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Resonant Inc (NASDAQ:RESN)’s share price dropped 18.1% during trading on Tuesday . The company traded as low as $1.63 and last traded at $1.76, approximately 709,032 shares traded hands during mid-day trading. An increase of 228% from the average daily volume of 216,370 shares. The stock had previously closed at $2.15.

Several equities analysts recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Resonant in a research report on Monday, October 14th. Needham & Company LLC restated a “buy” rating and issued a $4.50 price target on shares of Resonant in a research report on Wednesday, November 6th. Finally, Zacks Investment Research cut Resonant from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th.

The company has a market capitalization of $57.59 million, a PE ratio of -2.02 and a beta of 2.18. The company’s fifty day moving average is $2.25 and its 200-day moving average is $2.57. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.98 and a current ratio of 2.98.

In other news, CFO Martin S. Mcdermut sold 16,460 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $2.14, for a total transaction of $35,224.40. Following the sale, the chief financial officer now directly owns 108,012 shares in the company, valued at approximately $231,145.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George B. Holmes sold 33,385 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $2.11, for a total transaction of $70,442.35. Following the sale, the chief executive officer now owns 334,654 shares in the company, valued at $706,119.94. The disclosure for this sale can be found here. Insiders have sold 81,161 shares of company stock worth $176,799 in the last ninety days. Insiders own 26.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Morgan Stanley boosted its holdings in Resonant by 142.2% in the 2nd quarter. Morgan Stanley now owns 502,029 shares of the semiconductor company’s stock worth $1,194,000 after buying an additional 294,717 shares during the period. Vanguard Group Inc. lifted its holdings in Resonant by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 807,528 shares of the semiconductor company’s stock worth $1,922,000 after purchasing an additional 62,341 shares in the last quarter. Private Advisor Group LLC boosted its stake in Resonant by 34.8% in the 2nd quarter. Private Advisor Group LLC now owns 19,985 shares of the semiconductor company’s stock worth $48,000 after purchasing an additional 5,156 shares during the period. BlackRock Inc. boosted its stake in Resonant by 441.1% in the 2nd quarter. BlackRock Inc. now owns 354,507 shares of the semiconductor company’s stock worth $843,000 after purchasing an additional 288,991 shares during the period. Finally, Sigma Planning Corp boosted its stake in Resonant by 42.4% in the 2nd quarter. Sigma Planning Corp now owns 248,250 shares of the semiconductor company’s stock worth $591,000 after purchasing an additional 73,900 shares during the period. 10.52% of the stock is owned by institutional investors.

Resonant Company Profile (NASDAQ:RESN)

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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