Resonant Inc. (NASDAQ: RESN) Stock In Prove Me State

FIVE Stock
FIVE Stock

After grabbing 4.0 million shares, the institutional investor is now in possession of 4.0 million shares of the Technology Company. The new investment brought the stake of investor firm to 7.58% having worth around $11.04 million. Moreover, BlackRock Fund Advisors increased its share by 2.09 million to have a control over 2.56 million shares. And The Vanguard Group, Inc. raised its holdings to 0.17 million shares by acquiring 1.59 million shares or 3.02% of the stake.

Resonant Inc. (RESN) concluded trading on 08/27/20 at a closing price of $2.63, with 1.09 million shares of worth about $2.86 million changed hands on the day. Weekly performance of the stock remained negative as price took a plunge of -8.36% during that period and on Thursday the price saw a loss of about -4.01%. Currently the company’s common shares owned by public are about 52.90M shares, out of which, 48.24M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the RESN stock and their offered price forecasts bring an average price target of $3.70. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $3.00. Analysts also issued an outlook of 1.80 for the Resonant Inc. stock for next 12 months. The stock’s current price level is 27.55% above of average price target set by the analysts, while a rise to estimated low would result in gain of 12.33 for the stock. However, touching the estimated high of $5.00 would mean a gain of 47.4% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 72 times over the past 12 months. They bought 497,845 shares in 46 of the transactions. In 26 selling transactions, insiders dumped 755,416 shares.

iShares Russell 2000 ETF, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Resonant Inc. iShares Russell 2000 ETF is currently holding 1.02 million shares of worth totaling $2.82 million. The company recently came selling 47600.0 shares which brought its stake up to 1.94% of the company’s outstanding shares. Vanguard Extended Market Index Fu, after buying 0.58 million shares, have now control over 1.11% of the stake in the company. It holds 0.0 shares of worth $1.61 million.

Resonant Inc. (NASDAQ: RESN) started trading at $2.75, above $0.01 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $2.63, or with a loss of -4.01%. Stock saw a price change of -8.36% in past 5 days and over the past one month there was a price change of 8.68%. Year-to-date (YTD), RESN shares are showing a performance of 8.68% which decreased to -18.07% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.95 but also hit the highest price of $3.58 during that period. While comparing its average daily trading volume of 966.66K shares, we see that about 1.09 million changed hands on the day. The stock is currently trading -2.42% below its 20-day simple moving average (SMA20), while that difference is up 3.78% for SMA50 and it goes to 21.30% higher than SMA200.

Select Equity Group LP acquired 4.0 million shares of Resonant Inc. having value of about $11.04 million. Resonant Inc. (NASDAQ: RESN) currently have 52.90M outstanding shares and institutions hold larger chunk of about 47.40% of that. Holding of mutual funds in the company is about 38.75% while other institutional holders and individual stake holders have control over 8.38% and 20.74% of the stake respectively.

The stock has a current market capitalization of $143.20M and its 3Y-monthly beta is at 3.01. It has posted earnings per share of -$0.81 in the same period. It has Quick Ratio of 4.50 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RESN, volatility over the week remained 7.28% while standing at 9.34% over the month.

Analysts are in expectations that Resonant Inc. (RESN) stock would likely to be making an EPS of -$0.1 in the current quarter, while forecast for next quarter ESPS is -$0.1 and it is -$0.28 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.11 which is -$0.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.2 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -3.70% while it is estimated to increase by 36.40% in next year.

Analysts at 5 brokerage firms have issued recommendations for the Resonant Inc. (RESN)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 5 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on February 28, 2020 offering a Buy rating for the stock and assigned a target price of $2.20 to it. Coverage by Craig Hallum stated Resonant Inc. (RESN) stock as a Buy in their note to investors on May 09, 2019, suggesting a price target of $4 for the stock. On June 22, 2018, Loop Capital Initiated their recommendations, while on March 27, 2018, Needham Initiated their ratings for the stock with a price target of $6. Stock get a Buy rating from National Securities on December 05, 2017.


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