Quantenna Communications (QTNA) Rating Increased to Hold at BidaskClub

Quantenna Communications (NASDAQ:QTNA) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Needham & Company LLC lowered their price target on Quantenna Communications from $26.00 to $20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 7th. Barclays cut Quantenna Communications to an “equal weight” rating in a research report on Tuesday, November 7th. Roth Capital lowered their price target on Quantenna Communications from $27.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Finally, ValuEngine cut Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Quantenna Communications has a consensus rating of “Hold” and a consensus target price of $20.00.

Quantenna Communications (NASDAQ QTNA) opened at $14.09 on Thursday. Quantenna Communications has a 1 year low of $9.60 and a 1 year high of $25.45. The stock has a market capitalization of $487.94 and a price-to-earnings ratio of 281.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.51 and a current ratio of 4.06.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings results on Monday, November 6th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Quantenna Communications had a return on equity of 3.14% and a net margin of 1.23%. sell-side analysts predict that Quantenna Communications will post -0.04 earnings per share for the current year.

In related news, SVP Lionel Bonnot sold 5,500 shares of Quantenna Communications stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $10.72, for a total value of $58,960.00. Following the transaction, the senior vice president now directly owns 22,684 shares in the company, valued at approximately $243,172.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sam Heidari sold 2,000 shares of Quantenna Communications stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $15.15, for a total value of $30,300.00. Following the completion of the transaction, the chairman now owns 70,700 shares in the company, valued at $1,071,105. The disclosure for this sale can be found here. Insiders sold a total of 45,899 shares of company stock worth $609,875 over the last 90 days. Insiders own 22.62% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Quantenna Communications by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 2,035 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of Quantenna Communications in the 3rd quarter worth $333,000. Quantum Capital Management acquired a new position in shares of Quantenna Communications in the 3rd quarter worth $1,185,000. Scholtz & Company LLC acquired a new position in shares of Quantenna Communications in the 2nd quarter worth $1,341,000. Finally, Citadel Advisors LLC grew its holdings in shares of Quantenna Communications by 28.9% in the 3rd quarter. Citadel Advisors LLC now owns 42,746 shares of the technology company’s stock worth $719,000 after acquiring an additional 9,589 shares during the last quarter. Institutional investors and hedge funds own 37.84% of the company’s stock.

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About Quantenna Communications

Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.

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