Quantenna Communications (NASDAQ:QTNA) was downgraded by analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a research report issued on Thursday, March 28th, The Fly reports.
A number of other equities analysts have also commented on QTNA. Zacks Investment Research upgraded Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, January 30th. Stifel Nicolaus lowered Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley lowered Quantenna Communications from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $18.00 to $24.50 in a research note on Thursday, March 28th. BidaskClub upgraded Quantenna Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Finally, TheStreet raised Quantenna Communications from a “d+” rating to a “c-” rating in a research report on Monday, February 25th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.52.
Shares of Quantenna Communications stock traded up $0.06 during trading on Thursday, reaching $24.28. The company’s stock had a trading volume of 348,038 shares, compared to its average volume of 2,282,592. The firm has a market capitalization of $928.98 million, a PE ratio of 303.50, a PEG ratio of 3.25 and a beta of 1.07. Quantenna Communications has a one year low of $12.48 and a one year high of $24.35.
In related news, Chairman Sam Heidari sold 35,000 shares of Quantenna Communications stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $20.75, for a total transaction of $726,250.00. Following the sale, the chairman now directly owns 340,536 shares of the company’s stock, valued at $7,066,122. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP David William Carroll sold 16,406 shares of Quantenna Communications stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $14.00, for a total value of $229,684.00. Following the sale, the senior vice president now directly owns 56,504 shares in the company, valued at $791,056. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,553 shares of company stock worth $1,416,440. 13.49% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTNA. JPMorgan Chase & Co. boosted its holdings in Quantenna Communications by 31.1% during the third quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock valued at $41,146,000 after purchasing an additional 529,520 shares in the last quarter. Trigran Investments Inc. boosted its holdings in Quantenna Communications by 46.0% during the fourth quarter. Trigran Investments Inc. now owns 1,487,486 shares of the technology company’s stock valued at $21,346,000 after purchasing an additional 468,644 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Quantenna Communications during the third quarter valued at approximately $6,532,000. Manatuck Hill Partners LLC boosted its holdings in Quantenna Communications by 257.4% during the third quarter. Manatuck Hill Partners LLC now owns 382,800 shares of the technology company’s stock valued at $7,063,000 after purchasing an additional 275,700 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Quantenna Communications by 63.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 607,520 shares of the technology company’s stock valued at $8,718,000 after purchasing an additional 235,603 shares in the last quarter. 66.10% of the stock is currently owned by institutional investors.
About Quantenna Communications
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.
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