Zacks Investment Research upgraded shares of Resonant (NASDAQ:RESN) from a sell rating to a hold rating in a 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. “

Several other research firms also recently weighed in on RESN. Needham & Company LLC set a $5.00 target price on shares of Resonant and gave the stock a buy rating in a research report on Wednesday, August 7th. HC Wainwright dropped their target price on shares of Resonant from $8.00 to $4.00 and set a buy rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Resonant currently has a consensus rating of Buy and a consensus price target of $5.60.

Resonant stock traded down $0.18 during midday trading on Wednesday, hitting $2.92. 229,787 shares of the stock were exchanged, compared to its average volume of 198,855. Resonant has a 1 year low of $0.92 and a 1 year high of $4.00. The firm has a market cap of $92.14 million, a P/E ratio of -2.98 and a beta of 2.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.11 and a quick ratio of 3.11. The company has a 50 day moving average price of $3.11 and a two-hundred day moving average price of $2.77.

Resonant (NASDAQ:RESN) last released its quarterly earnings results on Thursday, August 8th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.09). Resonant had a negative return on equity of 137.94% and a negative net margin of 6,314.32%. The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.50 million. As a group, analysts predict that Resonant will post -0.83 EPS for the current year.

In related news, Director Michael J. Fox bought 396,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $2.53 per share, with a total value of $1,001,880.00. Following the transaction, the director now owns 62,925 shares of the company’s stock, valued at $159,200.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 13,747 shares of company stock valued at $38,373 in the last three months. Insiders own 26.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Resonant by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 807,528 shares of the semiconductor company’s stock worth $1,922,000 after purchasing an additional 62,341 shares during the last quarter. Morgan Stanley grew its position in shares of Resonant by 142.2% during the 2nd quarter. Morgan Stanley now owns 502,029 shares of the semiconductor company’s stock valued at $1,194,000 after buying an additional 294,717 shares during the last quarter. BlackRock Inc. grew its position in shares of Resonant by 441.1% during the 2nd quarter. BlackRock Inc. now owns 354,507 shares of the semiconductor company’s stock valued at $843,000 after buying an additional 288,991 shares during the last quarter. Sigma Planning Corp grew its position in shares of Resonant by 42.4% during the 2nd quarter. Sigma Planning Corp now owns 248,250 shares of the semiconductor company’s stock valued at $591,000 after buying an additional 73,900 shares during the last quarter. Finally, Westside Investment Management Inc. bought a new stake in shares of Resonant during the 2nd quarter valued at about $199,000. 10.72% of the stock is owned by institutional investors.

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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