Resonant (NASDAQ:RESN) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Resonant (NASDAQ:RESN) from a sell rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Resonant Inc. is a development-stage company. It creates filter designs for radio frequency front-ends for the mobile device industry. The Company’s product configures resonators, the building blocks of RF filters to select desired radio frequency signals and reject unwanted signals. Resonant Inc. is based in Santa Barbara, California. “

A number of other research analysts have also weighed in on RESN. HC Wainwright boosted their target price on Palatin Technologies from $5.00 to $6.00 and gave the stock a buy rating in a report on Thursday, May 9th. Needham & Company LLC reissued a buy rating and set a $20.00 target price on shares of MACOM Technology Solutions in a report on Monday, May 13th. Finally, Craig Hallum decreased their target price on Green Dot from $115.00 to $100.00 and set a buy rating on the stock in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Resonant currently has a consensus rating of Buy and an average price target of $6.30.

RESN stock opened at $2.47 on Wednesday. The company has a current ratio of 5.50, a quick ratio of 5.50 and a debt-to-equity ratio of 0.17. Resonant has a 1-year low of $0.92 and a 1-year high of $5.53. The business’s 50 day simple moving average is $2.45.

Resonant (NASDAQ:RESN) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The business had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.20 million. Resonant had a negative return on equity of 103.25% and a negative net margin of 5,236.92%. Equities analysts forecast that Resonant will post -0.74 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in Resonant by 89,800.0% in the 4th quarter. Deutsche Bank AG now owns 89,900 shares of the semiconductor company’s stock valued at $119,000 after buying an additional 89,800 shares in the last quarter. Two Sigma Investments LP acquired a new position in Resonant in the 4th quarter valued at $48,000. Paradigm Capital Management Inc. NY acquired a new position in Resonant in the 1st quarter valued at $153,000. Bank of New York Mellon Corp acquired a new position in Resonant in the 4th quarter valued at $34,000. Finally, Leisure Capital Management grew its holdings in Resonant by 4.5% in the 1st quarter. Leisure Capital Management now owns 79,575 shares of the semiconductor company’s stock valued at $239,000 after buying an additional 3,416 shares in the last quarter. 9.18% of the stock is currently owned by hedge funds and other institutional investors.

About Resonant

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.

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