Is Resonant Inc. (NASDAQ: RESN) Back In The Buying Zone?

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With over 0.62 million Resonant Inc. (RESN) shares trading Thursday and a closing price of $2.30 on the day, the dollar volume was approximately $1.43 million. The shares have shown a negative weekly performance of -1.71% and its price on 07/09/20 lost nearly -4.96%. Currently, there are 43.83M common shares owned by the public and among those 37.08M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for RESN have a consensus price objective of $3.70. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $3.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Resonant Inc. stock is 1.80 for the next 12 months. The average price target is 37.84% above its last price level and an upside to the estimated low will see the stock gain 23.33% over that period. But an upside of 54.0% will see the stock hit the forecast high price target while mean target price for the stock is $3.50.

Insiders at the company have transacted a total of 70 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 870,950 shares. Insider sales of the common stock occurred on 25 occasions, with total insider shares sold totaling 749,613 shares.

Shares of Resonant Inc. (NASDAQ: RESN) opened at $2.43, up $0.01 from a prior closing price of $2.42. However, the script later closed the day at $2.30, down -4.96%. The company’s stock has a 5-day price change of -1.71% and 69.12% over the past three months. RESN shares are trading -4.96% year to date (YTD), with the 12-month market performance down to -5.74% lower. It has a 12-month low price of $0.95 and touched a high of $3.58 over the same period. Currently, 0.62 million shares have been traded, compared to an average intraday trading volume of 1.00 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -8.48%, -5.80%, and 5.30% respectively.

Institutional ownership of Resonant Inc. (NASDAQ: RESN) shares accounts for 33.50% of the company’s 43.83M shares outstanding.

It has a market capitalization of $114.91M and a beta (3y monthly) value of 2.67. The stock’s earnings-per-share (ttm) stands at -$0.94. The company has a Quick Ratio of 5.50 with the debt-to-equity ratio at 0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.83% over the week and 8.06% over the month.

Analysts forecast that Resonant Inc. (RESN) will achieve an EPS of -$0.12 for the current quarter, -$0.11 for the next quarter and -$0.3 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.11. Comparatively, EPS for the current quarter was -$0.21 a year ago. Earnings per share for the fiscal year are expected to decrease by -3.70%, and 36.20% over the next financial year. EPS over the next five years should compared to 14.00% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Resonant Inc. (RESN) as a “Strong Buy” at a consensus score of 1.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the RESN, a number of firms have released research notes about the stock. Stifel stated their Buy rating for the stock in a research note on February 28, 2020, with the firm’s price target at $2.20. Craig Hallum coverage for the Resonant Inc. (RESN) stock in a research note released on May 09, 2019 offered a Buy rating with a price target of $4. Loop Capital was of a view on June 22, 2018 that the stock is Buy, while Needham gave the stock Buy rating on March 27, 2018 $6. National Securities on their part issued Buy rating on December 05, 2017.

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