HC Wainwright Reiterates Buy Rating for Resonant Inc. (RESN)

HC Wainwright reiterated their buy rating on shares of Resonant Inc. (NASDAQ:RESN) in a research report report published on Thursday morning. They currently have a $8.00 target price on the semiconductor company’s stock.

Several other research firms have also recently commented on RESN. Zacks Investment Research cut Resonant from a buy rating to a hold rating in a research note on Wednesday, July 12th. Drexel Hamilton restated a buy rating and issued a $8.00 target price on shares of Resonant in a research note on Thursday.

Resonant (NASDAQ RESN) traded down $0.01 during midday trading on Thursday, reaching $4.77. The company’s stock had a trading volume of 64,300 shares, compared to its average volume of 54,575. Resonant has a 12-month low of $3.82 and a 12-month high of $5.55.

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In related news, Director John E. Major acquired 20,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $4.36 per share, for a total transaction of $87,200.00. Following the purchase, the director now directly owns 95,978 shares in the company, valued at approximately $418,464.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Stifel Financial Corp raised its stake in shares of Resonant by 195.2% during the 3rd quarter. Stifel Financial Corp now owns 31,000 shares of the semiconductor company’s stock worth $137,000 after purchasing an additional 20,500 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Resonant by 2.9% during the 2nd quarter. Westside Investment Management Inc. now owns 44,600 shares of the semiconductor company’s stock worth $217,000 after purchasing an additional 1,250 shares in the last quarter. Leisure Capital Management raised its stake in shares of Resonant by 25.2% during the 2nd quarter. Leisure Capital Management now owns 64,574 shares of the semiconductor company’s stock worth $286,000 after purchasing an additional 13,003 shares in the last quarter. Finally, Concert Wealth Management Inc. bought a new stake in shares of Resonant during the 2nd quarter worth approximately $1,542,000. Institutional investors own 4.45% of the company’s stock.

About Resonant

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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