Quantenna Comms (NASDAQ:QTNA) Issues Earnings Results
Quantenna Comms (NASDAQ:QTNA) released its quarterly earnings data on Monday. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02, Bloomberg Earnings reports. The business had revenue of $47.10 million during the quarter, compared to analyst estimates of $42.90 million. The firm’s revenue was up 42.7% compared to the same quarter last year. Quantenna Comms updated its Q3 guidance to $0.07-$0.09 EPS.
Quantenna Comms (NASDAQ:QTNA) traded down 0.41% during midday trading on Monday, reaching $19.37. The company’s stock had a trading volume of 441,969 shares. The firm has a 50 day moving average price of $19.68 and a 200 day moving average price of $20.01. Quantenna Comms has a 1-year low of $13.75 and a 1-year high of $25.45. The firm’s market capitalization is $652.73 million.
In other Quantenna Comms news, CFO Sean Sobers sold 2,743 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.02, for a total value of $57,657.86. Following the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at $210,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Sc Xi Management Llc sold 1,981,938 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $19.90, for a total value of $39,440,566.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,554,776 shares of company stock worth $51,230,375. 22.62% of the stock is currently owned by company insiders.
A number of equities analysts have commented on QTNA shares. Zacks Investment Research raised shares of Quantenna Comms from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $26.00 price objective on shares of Quantenna Comms in a report on Tuesday, May 9th. Finally, Barclays PLC reaffirmed an “overweight” rating on shares of Quantenna Comms in a report on Friday, July 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $24.17.
Quantenna Comms 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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