Resonant’s (RESN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Resonant (NASDAQ:RESN) in a research report sent to investors on Monday morning, AnalystRatings.com reports. The firm currently has a $4.50 price objective on the semiconductor company’s stock.

A number of other brokerages also recently commented on RESN. Craig Hallum restated a buy rating and issued a $4.00 price objective (down previously from $5.00) on shares of Resonant in a research report on Thursday, May 9th. HC Wainwright restated a buy rating and issued a $8.00 price objective on shares of Resonant in a research report on Thursday, May 9th. Finally, Zacks Investment Research downgraded shares of Resonant from a hold rating to a sell rating in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $6.30.

Shares of RESN opened at $3.07 on Monday. Resonant has a fifty-two week low of $0.92 and a fifty-two week high of $6.32. The stock has a market cap of $86.48 million, a PE ratio of -3.13 and a beta of 2.65. The company has a debt-to-equity ratio of 0.17, a current ratio of 5.50 and a quick ratio of 6.67.

Resonant (NASDAQ:RESN) last announced its earnings results on Thursday, March 14th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). Resonant had a negative return on equity of 103.25% and a negative net margin of 5,236.92%. The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.10 million. On average, sell-side analysts anticipate that Resonant will post -0.61 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. Leisure Capital Management lifted its position in Resonant by 4.5% in the first quarter. Leisure Capital Management now owns 79,575 shares of the semiconductor company’s stock valued at $239,000 after purchasing an additional 3,416 shares during the period. Sigma Planning Corp increased its holdings in Resonant by 8.9% in the fourth quarter. Sigma Planning Corp now owns 175,350 shares of the semiconductor company’s stock valued at $233,000 after buying an additional 14,350 shares in the last quarter. Private Advisor Group LLC purchased a new position in Resonant in the first quarter valued at about $44,000. Barclays PLC increased its holdings in Resonant by 23,188.8% in the fourth quarter. Barclays PLC now owns 20,727 shares of the semiconductor company’s stock valued at $28,000 after buying an additional 20,638 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Resonant in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 8.92% of the company’s stock.

Resonant Company Profile

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.

Read More: Market Capitalization – What it Means for Investors

Analyst Recommendations for Resonant (NASDAQ:RESN)

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.