Resonant (NASDAQ:RESN) Downgraded by Zacks Investment Research

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Zacks Investment Research cut shares of Resonant (NASDAQ:RESN) from a hold rating to a sell rating in a report issued on Friday, 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. “

A number of other research firms have also recently commented on RESN. HC Wainwright reduced their price target on Resonant from $8.00 to $4.00 and set a buy rating for the company in a report on Wednesday, August 7th. Craig Hallum reiterated a buy rating and set a $4.00 price target (down previously from $5.00) on shares of Resonant in a report on Thursday, May 9th. Finally, Needham & Company LLC set a $5.00 price target on Resonant and gave the stock a buy rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Resonant presently has a consensus rating of Buy and an average price target of $5.60.

Resonant stock opened at $2.60 on Friday. Resonant has a 52 week low of $0.92 and a 52 week high of $5.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.50 and a current ratio of 3.11. The stock has a market capitalization of $68.43 million, a P/E ratio of -2.65 and a beta of 2.49. The stock has a 50-day simple moving average of $2.35 and a 200 day simple moving average of $2.79.

In other Resonant news, Director Michael J. Fox purchased 396,000 shares of Resonant stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $2.53 per share, for a total transaction of $1,001,880.00. Following the completion of the acquisition, the director now owns 62,925 shares of the company’s stock, valued at approximately $159,200.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 26.60% of the company’s stock.

Several large investors have recently modified their holdings of RESN. Bank of New York Mellon Corp bought a new position in Resonant during the fourth quarter worth about $34,000. Two Sigma Investments LP bought a new position in Resonant during the fourth quarter worth about $48,000. Deutsche Bank AG grew 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 purchasing an additional 89,800 shares during the period. Leisure Capital Management grew 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 purchasing an additional 3,416 shares during the period. Finally, Paradigm Capital Management Inc. NY bought a new position in Resonant during the first quarter worth about $153,000. Institutional investors own 9.64% 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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Analyst Recommendations for Resonant (NASDAQ:RESN)

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