Quantenna Communications (QTNA) Trading Up 6.2%

Quantenna Communications Inc (NASDAQ:QTNA) shares were up 6.2% during mid-day trading on Wednesday . The stock traded as high as $14.40 and last traded at $14.14. Approximately 625,053 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 433,069 shares. The stock had previously closed at $13.32.

Several research analysts recently issued reports on QTNA shares. Needham & Company LLC decreased their price target on shares of Quantenna Communications from $26.00 to $20.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 7th. Barclays lowered shares of Quantenna Communications to an “equal weight” rating in a research note on Tuesday, November 7th. Roth Capital decreased their price target on shares of Quantenna Communications from $27.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. ValuEngine lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Finally, Zacks Investment Research lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Quantenna Communications presently has an average rating of “Hold” and an average price target of $20.00.

The firm has a market capitalization of $457.52, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.27 and a beta of 3.56. The company has a current ratio of 4.06, a quick ratio of 3.51 and a debt-to-equity ratio of 0.01.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. The business had revenue of $41.30 million during the quarter, compared to analyst estimates of $41.00 million. Quantenna Communications had a net margin of 19.51% and a return on equity of 1.03%. Quantenna Communications’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $0.03 EPS. equities research analysts anticipate that Quantenna Communications Inc will post 0.41 earnings per share for the current fiscal year.

In other Quantenna Communications news, SVP Lionel Bonnot sold 6,899 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $12.33, for a total transaction of $85,064.67. Following the completion of the sale, the senior vice president now directly owns 22,684 shares in the company, valued at approximately $279,693.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David William Carroll sold 3,868 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $14.01, for a total transaction of $54,190.68. Following the sale, the senior vice president now owns 42,988 shares of the company’s stock, valued at $602,261.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,354 shares of company stock valued at $325,818. 22.62% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its stake in shares of Quantenna Communications by 96.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 50,488 shares of the technology company’s stock worth $960,000 after acquiring an additional 24,852 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Quantenna Communications by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 2,035 shares during the period. Swiss National Bank bought a new stake in shares of Quantenna Communications in the second quarter worth approximately $262,000. Alliancebernstein L.P. bought a new stake in shares of Quantenna Communications in the second quarter worth approximately $378,000. Finally, Teachers Advisors LLC grew its stake in shares of Quantenna Communications by 244.7% in the second quarter. Teachers Advisors LLC now owns 37,569 shares of the technology company’s stock worth $714,000 after acquiring an additional 26,670 shares during the period. Institutional investors and hedge funds own 38.58% of the company’s stock.

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Quantenna Communications Company Profile

Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.

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