Shares of Resonant Inc (NASDAQ:RESN) have earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $8.20.

Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Resonant from a “sell” rating to a “hold” rating in a research note on Thursday. Loop Capital assumed coverage on shares of Resonant in a research note on Thursday, June 21st. They issued a “buy” rating and a $11.00 target price for the company. HC Wainwright set a $8.00 target price on shares of Resonant and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, National Securities restated a “buy” rating and issued a $8.00 target price on shares of Resonant in a research note on Monday, August 13th.

Shares of RESN opened at $3.12 on Friday. The company has a market capitalization of $109.55 million, a price-to-earnings ratio of -2.48 and a beta of 1.09. Resonant has a twelve month low of $2.45 and a twelve month high of $8.55.

Resonant (NASDAQ:RESN) last announced its earnings results on Thursday, August 9th. The semiconductor company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. The company had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.30 million. Resonant had a negative net margin of 4,330.47% and a negative return on equity of 83.23%. Equities research analysts anticipate that Resonant will post -0.78 EPS for the current year.

In other Resonant news, CEO George B. Holmes sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 2nd. The shares were sold at an average price of $3.69, for a total value of $25,830.00. Following the completion of the sale, the chief executive officer now directly owns 262,481 shares in the company, valued at $968,554.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 17,005 shares of company stock valued at $65,064. 11.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of RESN. Northern Trust Corp raised 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 worth $267,000 after buying an additional 26,076 shares during the last quarter. Sterling Capital Management LLC purchased a new position in shares of Resonant in the second quarter worth $282,000. BlackRock Inc. raised its holdings in shares of Resonant by 107.5% in the second quarter. BlackRock Inc. now owns 67,870 shares of the semiconductor company’s stock worth $383,000 after buying an additional 35,159 shares during the last quarter. MYDA Advisors LLC purchased a new position in shares of Resonant in the second quarter worth $485,000. Finally, Sigma Planning Corp raised its holdings in shares of Resonant by 16.1% in the second quarter. Sigma Planning Corp now owns 136,200 shares of the semiconductor company’s stock worth $768,000 after buying an additional 18,900 shares during the last quarter. 20.26% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Resonant (NASDAQ:RESN)

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