Resonant Inc (NASDAQ:RESN) was down 11.1% during trading on Friday . The stock traded as low as $3.28 and last traded at $3.35. Approximately 2,744,311 shares traded hands during mid-day trading, an increase of 1,139% from the average daily volume of 221,551 shares. The stock had previously closed at $3.77.
Several equities research analysts recently commented on RESN shares. National Securities set a $14.00 price target on shares of Resonant and gave the stock a “buy” rating in a report on Wednesday, February 28th. HC Wainwright reaffirmed a “buy” rating and set a $8.00 target price on shares of Resonant in a report on Monday, January 22nd. Finally, Zacks Investment Research lowered shares of Resonant from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $8.70.
The company has a market capitalization of $84.01, a price-to-earnings ratio of -2.36 and a beta of 1.02.
Institutional investors have recently added to or reduced their stakes in the company. Institute for Wealth Management LLC. purchased a new stake in shares of Resonant during the fourth quarter worth $5,753,000. Sigma Planning Corp purchased a new stake in shares of Resonant during the fourth quarter worth $284,000. Doheny Asset Management CA purchased a new stake in shares of Resonant during the fourth quarter worth $862,000. Stifel Financial Corp grew its holdings in shares of Resonant by 195.2% during the third quarter. Stifel Financial Corp now owns 31,000 shares of the semiconductor company’s stock worth $137,000 after buying an additional 20,500 shares in the last quarter. Finally, Raymond James & Associates purchased a new stake in shares of Resonant during the fourth quarter worth $104,000. 7.88% of the stock is owned by institutional investors and hedge funds.
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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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