Resonant Inc. (NASDAQ:RESN) Receives Average Rating of “Buy” from Analysts

Shares of Resonant Inc. (NASDAQ:RESN) have been given a consensus rating of “Buy” by the six research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.65.

A number of equities analysts have commented on RESN shares. Craig Hallum reiterated a “buy” rating and issued a $6.00 price objective on shares of Resonant in a report on Wednesday, July 28th. Benchmark assumed coverage on shares of Resonant in a research report on Tuesday, July 27th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Resonant from a “hold” rating to a “sell” rating in a research report on Friday, August 20th.

Several large investors have recently modified their holdings of RESN. The Manufacturers Life Insurance Company lifted its stake in shares of Resonant by 16.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,920 shares of the semiconductor company’s stock worth $127,000 after acquiring an additional 4,227 shares during the period. BlackRock Inc. lifted its stake in shares of Resonant by 15.7% in the 1st quarter. BlackRock Inc. now owns 3,345,300 shares of the semiconductor company’s stock worth $14,184,000 after acquiring an additional 453,198 shares during the period. Russell Investments Group Ltd. acquired a new stake in Resonant during the first quarter valued at approximately $449,000. JPMorgan Chase & Co. lifted its stake in Resonant by 71.9% during the first quarter. JPMorgan Chase & Co. now owns 216,699 shares of the semiconductor company’s stock valued at $919,000 after purchasing an additional 90,644 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Resonant by 22.1% during the first quarter. Geode Capital Management LLC now owns 804,700 shares of the semiconductor company’s stock valued at $3,411,000 after purchasing an additional 145,433 shares during the last quarter. 24.59% of the stock is owned by institutional investors.

Shares of RESN stock remained flat at $$2.43 during mid-day trading on Thursday. The company’s stock had a trading volume of 4,977 shares, compared to its average volume of 1,539,109. Resonant has a 12 month low of $2.09 and a 12 month high of $8.33. The company has a market capitalization of $153.15 million, a PE ratio of -4.50 and a beta of 2.18. The firm’s 50-day moving average price is $2.76 and its two-hundred day moving average price is $3.32. The company has a quick ratio of 4.25, a current ratio of 4.25 and a debt-to-equity ratio of 0.01.

Resonant (NASDAQ:RESN) last issued its quarterly earnings data on Wednesday, August 11th. The semiconductor company reported ($0.11) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.02. Resonant had a negative net margin of 961.22% and a negative return on equity of 138.45%. As a group, analysts anticipate that Resonant will post -0.52 earnings per share for the current year.

About Resonant

Resonant, Inc engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. It focuses on developing its software platform, Infinite Synthesized Networks. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Austin, TX.

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Analyst Recommendations for Resonant (NASDAQ:RESN)

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