Resonant Inc. (NASDAQ:RESN) Expected to Announce Quarterly Sales of $600,000.00

Wall Street brokerages predict that Resonant Inc. (NASDAQ:RESN) will announce $600,000.00 in sales for the current quarter, Zacks reports. Two analysts have made estimates for Resonant’s earnings. Resonant posted sales of $610,000.00 during the same quarter last year, which suggests a negative year over year growth rate of 1.6%. The business is expected to announce its next earnings results on Monday, March 21st.

According to Zacks, analysts expect that Resonant will report full-year sales of $2.20 million for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report sales of $12.65 million, with estimates ranging from $10.30 million to $15.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Resonant.

Resonant (NASDAQ:RESN) last announced its quarterly earnings results on Wednesday, November 10th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.01). The company had revenue of $0.43 million for the quarter, compared to analyst estimates of $0.60 million. Resonant had a negative return on equity of 157.03% and a negative net margin of 1,508.74%. During the same quarter last year, the company posted ($0.11) earnings per share.

Separately, Zacks Investment Research upgraded Resonant from a “sell” rating to a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $6.06.

In related news, CEO George B. Holmes sold 39,857 shares of Resonant stock in a transaction that occurred on Thursday, December 2nd. The shares were sold at an average price of $1.90, for a total value of $75,728.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Dylan Kelly sold 26,189 shares of Resonant stock in a transaction that occurred on Thursday, December 2nd. The stock was sold at an average price of $1.90, for a total transaction of $49,759.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,134 shares of company stock valued at $173,196. 6.20% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of RESN. Moors & Cabot Inc. purchased a new position in shares of Resonant during the 3rd quarter valued at $25,000. Boothbay Fund Management LLC purchased a new position in shares of Resonant during the 2nd quarter valued at $35,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Resonant during the 2nd quarter valued at $42,000. Ibex Wealth Advisors purchased a new position in shares of Resonant during the 2nd quarter valued at $46,000. Finally, 9258 Wealth Management LLC purchased a new position in shares of Resonant during the 2nd quarter valued at $51,000. 21.47% of the stock is currently owned by institutional investors.

NASDAQ RESN traded down $0.06 on Friday, reaching $1.54. The company had a trading volume of 466,593 shares, compared to its average volume of 495,645. The firm has a market cap of $101.19 million, a price-to-earnings ratio of -2.70 and a beta of 1.97. Resonant has a fifty-two week low of $1.53 and a fifty-two week high of $8.33. The business has a 50 day moving average of $1.99 and a two-hundred day moving average of $2.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.12 and a quick ratio of 3.12.

Resonant Company Profile

Resonant, Inc engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. It focuses on developing its software platform, Infinite Synthesized Networks. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Austin, TX.

Read More: Capital Gains Distribution

Get a free copy of the Zacks research report on Resonant (RESN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Resonant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resonant and related companies with MarketBeat.com's FREE daily email newsletter.