Resonant Inc (NASDAQ:RESN) insider Robert B. Hammond sold 7,140 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $1.70, for a total transaction of $12,138.00. Following the transaction, the insider now owns 466,672 shares of the company’s stock, valued at $793,342.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Resonant stock opened at $1.60 on Friday. Resonant Inc has a 52-week low of $1.55 and a 52-week high of $8.55. The firm has a market cap of $44.43 million, a PE ratio of -1.27 and a beta of 1.00.
Resonant (NASDAQ:RESN) last released its earnings results on Tuesday, November 13th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.17). Resonant had a negative net margin of 4,630.51% and a negative return on equity of 80.75%. The business had revenue of $0.12 million during the quarter, compared to analyst estimates of $0.50 million. As a group, equities research analysts forecast that Resonant Inc will post -0.89 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Baird Financial Group Inc. grew its holdings in shares of Resonant by 3.7% during the third quarter. Baird Financial Group Inc. now owns 614,330 shares of the semiconductor company’s stock worth $2,365,000 after buying an additional 21,886 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Resonant by 122.2% in the second quarter. Northern Trust Corp now owns 47,423 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 26,076 shares during the period. Sterling Capital Management LLC purchased a new stake in shares of Resonant in the second quarter valued at about $282,000. MYDA Advisors LLC purchased a new stake in shares of Resonant in the second quarter valued at about $485,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Resonant in the second quarter valued at about $1,008,000. 19.59% of the stock is owned by institutional investors and hedge funds.
RESN has been the subject of a number of research reports. National Securities reaffirmed a “buy” rating and set a $8.00 target price on shares of Resonant in a report on Monday, August 13th. HC Wainwright set a $8.00 target price on shares of Resonant and gave the stock a “buy” rating in a report on Friday, August 10th. Loop Capital dropped their target price on shares of Resonant to $7.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Resonant from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $6.83.
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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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