Quantenna Communications (QTNA) Downgraded to “Hold” at BidaskClub

BidaskClub downgraded shares of Quantenna Communications (NASDAQ:QTNA) from a buy rating to a hold rating in a research note published on Friday, BidAskClub reports.

A number of other research firms also recently commented on QTNA. Zacks Investment Research downgraded shares of Quantenna Communications from a hold rating to a sell rating in a report on Wednesday, May 1st. Morgan Stanley cut shares of Quantenna Communications from an overweight rating to an equal weight rating and lifted their target price for the stock from $18.00 to $24.50 in a research report on Thursday, March 28th. William Blair cut shares of Quantenna Communications from an outperform rating to a market perform rating in a research report on Tuesday, April 30th. Northland Securities cut shares of Quantenna Communications to a market perform rating in a research report on Friday, May 10th. Finally, Dougherty & Co cut shares of Quantenna Communications from a buy rating to a neutral rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $21.71.

QTNA stock opened at $23.49 on Friday. The stock has a market cap of $923.17 million, a P/E ratio of 293.63, a P/E/G ratio of 3.07 and a beta of 1.02. Quantenna Communications has a 52 week low of $13.03 and a 52 week high of $24.48.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings data on Monday, April 29th. The technology company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The firm had revenue of $57.68 million for the quarter, compared to the consensus estimate of $57.49 million. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. The firm’s revenue was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. As a group, analysts forecast that Quantenna Communications will post 0.39 EPS for the current year.

In other Quantenna Communications news, CEO Sam Heidari sold 2,147 shares of Quantenna Communications stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $17.93, for a total transaction of $38,495.71. Following the completion of the transaction, the chief executive officer now owns 325,478 shares in the company, valued at $5,835,820.54. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 52,147 shares of company stock valued at $1,064,746. 13.49% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in QTNA. Penserra Capital Management LLC acquired a new position in shares of Quantenna Communications in the first quarter valued at approximately $43,000. Acadian Asset Management LLC acquired a new position in shares of Quantenna Communications in the first quarter valued at approximately $59,000. Quantamental Technologies LLC acquired a new position in shares of Quantenna Communications in the fourth quarter valued at approximately $69,000. Horrell Capital Management Inc. raised its position in shares of Quantenna Communications by 568.7% in the fourth quarter. Horrell Capital Management Inc. now owns 5,015 shares of the technology company’s stock valued at $72,000 after buying an additional 4,265 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Quantenna Communications by 105.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,542 shares of the technology company’s stock valued at $79,000 after buying an additional 2,845 shares during the last quarter. Institutional investors own 71.06% of the company’s stock.

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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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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