Resonant Inc (NASDAQ:RESN) was the recipient of a significant growth in short interest in December. As of December 29th, there was short interest totalling 1,101,482 shares, a growth of 28.1% from the December 15th total of 860,089 shares. Based on an average trading volume of 274,109 shares, the days-to-cover ratio is presently 4.0 days. Approximately 8.1% of the shares of the stock are short sold.
Several research firms have issued reports on RESN. Zacks Investment Research lowered Resonant from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. HC Wainwright set a $8.00 price objective on Resonant and gave the stock a “buy” rating in a research note on Thursday, January 4th. National Securities initiated coverage on Resonant in a research note on Tuesday, December 5th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Drexel Hamilton restated a “buy” rating and issued a $8.00 target price on shares of Resonant in a research note on Thursday, November 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Resonant currently has a consensus rating of “Buy” and an average target price of $8.70.
In other Resonant news, insider Robert B. Hammond sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $6.00, for a total transaction of $30,000.00. Following the completion of the transaction, the insider now directly owns 372,019 shares in the company, valued at $2,232,114. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Neal Fenzi sold 3,382 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $7.43, for a total value of $25,128.26. Following the transaction, the vice president now owns 379,626 shares of the company’s stock, valued at $2,820,621.18. The disclosure for this sale can be found here. Insiders have sold 35,357 shares of company stock valued at $252,980 over the last quarter. Corporate insiders own 22.30% of the company’s stock.
A hedge fund recently raised its stake in Resonant stock. Stifel Financial Corp grew its holdings in Resonant Inc (NASDAQ:RESN) by 195.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,000 shares of the semiconductor company’s stock after buying an additional 20,500 shares during the quarter. Stifel Financial Corp owned approximately 0.18% of Resonant worth $137,000 at the end of the most recent reporting period. Institutional investors own 5.15% of the company’s stock.
Shares of Resonant (NASDAQ:RESN) opened at $7.00 on Friday. Resonant has a 12 month low of $3.82 and a 12 month high of $8.55. The firm has a market capitalization of $117.48, a price-to-earnings ratio of -5.15 and a beta of 1.18.
Resonant (NASDAQ:RESN) last announced its earnings results on Wednesday, November 8th. The semiconductor company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.01. Resonant had a negative return on equity of 150.45% and a negative net margin of 2,772.35%. equities research analysts forecast that Resonant will post -0.95 EPS for the current fiscal year.
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Resonant Inc is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband.
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