Resonant Inc (NASDAQ:RESN) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.28 and traded as low as $1.07. Resonant shares last traded at $1.26, with a volume of 623,500 shares.
A number of equities research analysts recently issued reports on RESN shares. Zacks Investment Research upgraded shares of Resonant from a “sell” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC dropped their price target on shares of Resonant from $4.50 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Finally, Stifel Nicolaus initiated coverage on Resonant in a report on Friday, February 28th. They set a “buy” rating and a $2.20 price target for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $3.30.
The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market capitalization of $81.30 million, a P/E ratio of -1.48 and a beta of 2.78. The stock has a 50-day moving average of $1.56 and a 200 day moving average of $2.27.
Resonant (NASDAQ:RESN) last posted its quarterly earnings results on Tuesday, March 10th. The semiconductor company reported ($0.18) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.01. Resonant had a negative return on equity of 217.33% and a negative net margin of 4,072.11%. The company had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.35 million. On average, equities analysts predict that Resonant Inc will post -0.55 EPS for the current year.
In related news, major shareholder Longboard Capital Advisors, Ll sold 51,182 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $2.77, for a total transaction of $141,774.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 162,363 shares of company stock valued at $457,227. Insiders own 26.60% of the company’s stock.
Several institutional investors have recently modified their holdings of RESN. Sunbelt Securities Inc. acquired a new position in Resonant during the fourth quarter worth about $29,000. Goldman Sachs Group Inc. acquired a new stake in Resonant during the fourth quarter worth approximately $307,000. Oxford Asset Management LLP acquired a new stake in Resonant during the fourth quarter worth approximately $32,000. Finally, Sigma Planning Corp lifted its position in shares of Resonant by 13.0% during 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 period. 6.36% of the stock is owned by institutional investors.
About Resonant (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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