Needham & Company LLC Reaffirms “Buy” Rating for Resonant (RESN)

Needham & Company LLC reissued their buy rating on shares of Resonant (NASDAQ:RESN) in a report issued on Monday morning, AnalystRatings.com reports. They currently have a $4.50 target price on the semiconductor company’s stock.

A number of other analysts have also issued reports on RESN. Craig Hallum reissued a buy rating and issued a $4.00 target price (down previously from $5.00) on shares of Resonant in a research report on Thursday, May 9th. HC Wainwright reissued a buy rating and issued a $8.00 target price on shares of Resonant in a research report on Thursday, May 9th. Finally, Zacks Investment Research lowered Resonant from a hold rating to a sell rating in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $6.30.

RESN stock opened at $2.97 on Monday. The company has a market cap of $83.43 million, a PE ratio of -3.03 and a beta of 2.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 5.50 and a current ratio of 5.50. Resonant has a one year low of $0.92 and a one year high of $6.32.



Resonant (NASDAQ:RESN) last released its quarterly earnings results on Thursday, March 14th. The semiconductor company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.06). The firm had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.10 million. Resonant had a negative net margin of 5,236.92% and a negative return on equity of 103.25%. Analysts forecast that Resonant will post -0.61 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC purchased a new stake in Resonant in the first quarter valued at approximately $44,000. Barclays PLC raised its position in Resonant by 23,188.8% in the fourth quarter. Barclays PLC now owns 20,727 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 20,638 shares during the period. Bank of New York Mellon Corp purchased a new stake in Resonant in the fourth quarter valued at approximately $34,000. Virtu Financial LLC purchased a new stake in Resonant in the fourth quarter valued at approximately $45,000. Finally, Two Sigma Investments LP purchased a new stake in Resonant in the fourth quarter valued at approximately $48,000. 8.88% of the stock is currently owned by institutional investors.

About Resonant

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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Analyst Recommendations for Resonant (NASDAQ:RESN)

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