$600,000.00 in Sales Expected for Resonant Inc. (NASDAQ:RESN) This Quarter

Wall Street brokerages expect Resonant Inc. (NASDAQ:RESN) to announce $600,000.00 in sales for the current quarter, according to Zacks. Two analysts have issued 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 firm is scheduled to announce its next earnings results on Monday, March 21st.

On average, analysts expect that Resonant will report full year sales of $2.20 million for the current financial year. For the next year, analysts expect that the firm will report sales of $12.65 million, with estimates ranging from $10.30 million to $15.00 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Resonant.

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

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

RESN stock traded down $0.06 during midday trading on Friday, reaching $1.54. 466,593 shares of the company’s stock traded hands, compared to its average volume of 495,645. Resonant has a 52-week low of $1.53 and a 52-week high of $8.33. The stock has a market cap of $101.19 million, a P/E ratio of -2.70 and a beta of 1.97. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $1.99 and its 200 day moving average is $2.43.

In other news, CEO George B. Holmes sold 39,857 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Dylan Kelly sold 26,189 shares of the firm’s stock in a transaction dated 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. In the last 90 days, insiders have sold 90,134 shares of company stock valued at $173,196. 6.20% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Moors & Cabot Inc. acquired a new stake in Resonant in the 3rd quarter worth approximately $25,000. Boothbay Fund Management LLC acquired a new stake in Resonant during the 2nd quarter valued at approximately $35,000. Y Intercept Hong Kong Ltd acquired a new stake in Resonant during the 2nd quarter valued at approximately $42,000. Ibex Wealth Advisors purchased a new position in shares of Resonant during the 2nd quarter valued at approximately $46,000. Finally, 9258 Wealth Management LLC purchased a new position in shares of Resonant during the 2nd quarter valued at approximately $51,000. 21.47% of the stock is currently owned by hedge funds and other institutional investors.

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.

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