Resonant (NASDAQ:RESN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Resonant (NASDAQ:RESN) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Resonant Inc. is a development-stage company. It creates filter designs for radio frequency front-ends for the mobile device industry. The Company’s product configures resonators, the building blocks of RF filters to select desired radio frequency signals and reject unwanted signals. Resonant Inc. is based in Santa Barbara, California. “

Other research analysts have also issued reports about the stock. Needham & Company LLC reissued a buy rating and set a $20.00 target price on shares of MACOM Technology Solutions in a research note on Monday, May 13th. HC Wainwright increased their target price on shares of Palatin Technologies from $5.00 to $6.00 and gave the stock a buy rating in a research note on Thursday, May 9th. Finally, Craig Hallum cut their target price on shares of Green Dot from $115.00 to $100.00 and set a buy rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $6.30.



NASDAQ RESN remained flat at $$2.44 on Wednesday. 64,540 shares of the company traded hands, compared to its average volume of 240,056. The company has a market capitalization of $68.26 million, a PE ratio of -2.49 and a beta of 2.54. Resonant has a fifty-two week low of $0.92 and a fifty-two week high of $5.53. The business has a 50 day moving average price of $2.45. The company has a quick ratio of 5.50, a current ratio of 5.50 and a debt-to-equity ratio of 0.17.

Resonant (NASDAQ:RESN) last issued its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.08). The company had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.20 million. Resonant had a negative return on equity of 103.25% and a negative net margin of 5,236.92%. Analysts predict that Resonant will post -0.74 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG raised its holdings in Resonant by 89,800.0% during the fourth quarter. Deutsche Bank AG now owns 89,900 shares of the semiconductor company’s stock worth $119,000 after buying an additional 89,800 shares during the last quarter. Leisure Capital Management raised its holdings in Resonant by 4.5% during the first quarter. Leisure Capital Management now owns 79,575 shares of the semiconductor company’s stock worth $239,000 after buying an additional 3,416 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in Resonant during the first quarter worth $153,000. Two Sigma Investments LP acquired a new position in Resonant during the fourth quarter worth $48,000. Finally, Bank of New York Mellon Corp acquired a new position in Resonant during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 9.18% of the company’s stock.

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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