Quantenna Comms (NASDAQ:QTNA) Updates Q3 Earnings Guidance
Quantenna Comms (NASDAQ:QTNA) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.07-$0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.07. The company issued revenue guidance of $49-$51 million, compared to the consensus revenue estimate of $47.68 million.
Shares of Quantenna Comms (NASDAQ QTNA) traded down 0.41% during mid-day trading on Monday, reaching $19.37. The company’s stock had a trading volume of 440,194 shares. The stock’s market capitalization is $652.73 million. Quantenna Comms has a 12-month low of $13.75 and a 12-month high of $25.45. The company’s 50-day moving average price is $19.68 and its 200-day moving average price is $20.01.
Quantenna Comms (NASDAQ:QTNA) last released its quarterly earnings data on Monday, May 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The firm had revenue of $37.90 million during the quarter, compared to the consensus estimate of $35.44 million. The firm’s revenue for the quarter was up 55.3% on a year-over-year basis. On average, equities research analysts forecast that Quantenna Comms will post $0.27 earnings per share for the current fiscal year.
QTNA has been the topic of a number of research reports. Zacks Investment Research downgraded Quantenna Comms from a hold rating to a sell rating in a research note on Thursday, April 20th. Needham & Company LLC reiterated a strong-buy rating and issued a $26.00 target price on shares of Quantenna Comms in a report on Tuesday, May 9th. Finally, Barclays PLC reiterated 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $24.17.
In other news, SVP Lionel Bonnot sold 9,700 shares of Quantenna Comms stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $20.24, for a total value of $196,328.00. Following the completion of the transaction, the senior vice president now owns 28,600 shares in the company, valued at approximately $578,864. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David William Carroll sold 8,500 shares of Quantenna Comms stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $18.39, for a total value of $156,315.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,549,810 shares of company stock valued at $51,134,581. Company insiders own 22.62% of the company’s stock.
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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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