$600,000.00 in Sales Expected for Resonant Inc. (NASDAQ:RESN) This Quarter

Brokerages predict that Resonant Inc. (NASDAQ:RESN) will report sales of $600,000.00 for the current quarter, Zacks reports. Two analysts have made estimates for Resonant’s earnings. Resonant reported sales of $1.41 million during the same quarter last year, which would suggest a negative year over year growth rate of 57.4%. The company is scheduled to announce its next earnings results on Tuesday, November 9th.

On average, analysts expect that Resonant will report full-year sales of $4.55 million for the current fiscal year, with estimates ranging from $4.30 million to $4.80 million. For the next financial year, analysts forecast that the firm will report sales of $17.00 million, with estimates ranging from $15.00 million to $19.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Resonant.

Resonant (NASDAQ:RESN) last released 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%.

A number of equities analysts have commented on the stock. Zacks Investment Research downgraded shares of Resonant from a “hold” rating to a “sell” rating in a report on Friday, August 20th. Craig Hallum reiterated a “buy” rating and issued a $6.00 target price on shares of Resonant in a report on Wednesday, July 28th. Finally, Benchmark initiated coverage on shares of Resonant in a report on Tuesday, July 27th. They issued a “buy” rating and a $6.00 target price for the company. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat, Resonant presently has an average rating of “Buy” and a consensus price target of $5.65.

A number of institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new position in shares of Resonant during the 1st quarter valued at approximately $32,000. Caxton Associates LP purchased a new position in shares of Resonant during the 1st quarter valued at approximately $45,000. Boothbay Fund Management LLC purchased a new position in shares of Resonant during the 2nd quarter valued at approximately $35,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Resonant during the 2nd quarter valued at approximately $42,000. Finally, Ibex Wealth Advisors purchased a new position in shares of Resonant during the 2nd quarter valued at approximately $46,000. Institutional investors and hedge funds own 24.59% of the company’s stock.

NASDAQ:RESN traded up $0.04 during mid-day trading on Friday, reaching $2.56. The company’s stock had a trading volume of 16,202 shares, compared to its average volume of 1,561,438. Resonant has a 1 year low of $2.09 and a 1 year high of $8.33. The stock has a fifty day moving average of $2.79 and a 200-day moving average of $3.39. The firm has a market capitalization of $161.34 million, a PE ratio of -4.67 and a beta of 2.18. 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 Company Profile

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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