Resonant Inc. (NASDAQ:RESN) received a $8.00 price objective from stock analysts at HC Wainwright in a research report issued on Wednesday. The firm presently has a “buy” rating on the semiconductor company’s stock. HC Wainwright’s target price would indicate a potential upside of 70.94% from the stock’s previous close.

Separately, Zacks Investment Research downgraded Resonant from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th.

Resonant (NASDAQ:RESN) opened at 4.68 on Wednesday. Resonant has a 52-week low of $3.82 and a 52-week high of $5.55. The firm’s market capitalization is $68.79 million. The stock’s 50 day moving average price is $4.55 and its 200 day moving average price is $4.56.

Resonant (NASDAQ:RESN) last issued its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). Resonant had a negative return on equity of 150.42% and a negative net margin of 3,119.05%. The company had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.10 million. On average, equities analysts anticipate that Resonant will post ($1.11) earnings per share for the current fiscal year.

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In related news, Director John E. Major acquired 20,000 shares of the stock in a transaction dated Tuesday, August 15th. The stock was bought at an average cost of $4.36 per share, for a total transaction of $87,200.00. Following the completion of the transaction, the director now directly owns 95,978 shares of the company’s stock, valued at $418,464.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.30% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of RESN. Concert Wealth Management Inc. bought a new position in shares of Resonant during the second quarter worth about $1,542,000. Leisure Capital Management raised its position in shares of Resonant by 25.2% during the second quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock worth $286,000 after acquiring an additional 13,003 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in shares of Resonant by 2.9% during the second quarter. Westside Investment Management Inc. now owns 44,600 shares of the semiconductor company’s stock worth $217,000 after acquiring an additional 1,250 shares during the last quarter. Institutional investors own 5.06% of the company’s stock.

Resonant Company Profile

Resonant Inc is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband.

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