Quantenna Comms (QTNA) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Quantenna Comms (NASDAQ:QTNA) posted its quarterly earnings data on Monday. The technology company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03, Bloomberg Earnings reports. The company had revenue of $50.11 million for the quarter, compared to analyst estimates of $49.87 million. The business’s revenue was up 46.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 earnings per share. Quantenna Comms updated its Q4 guidance to ($0.04-0.02) EPS.
Quantenna Comms (QTNA) traded up $0.01 during trading hours on Monday, reaching $14.87. 340,070 shares of the company’s stock were exchanged, compared to its average volume of 196,606. The company has a quick ratio of 4.17, a current ratio of 4.77 and a debt-to-equity ratio of 0.02. Quantenna Comms has a 52 week low of $13.75 and a 52 week high of $25.45.
In other news, SVP Lionel Bonnot sold 8,600 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $17.98, for a total value of $154,628.00. Following the completion of the sale, the senior vice president now directly owns 27,500 shares in the company, valued at $494,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP David William Carroll sold 8,500 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $17.63, for a total transaction of $149,855.00. Following the completion of the sale, the senior vice president now owns 45,600 shares of the company’s stock, valued at $803,928. The disclosure for this sale can be found here. Insiders have sold 142,633 shares of company stock valued at $2,464,185 over the last 90 days. 22.62% of the stock is currently owned by company insiders.
A number of research firms have weighed in on QTNA. Needham & Company LLC restated a “buy” rating on shares of Quantenna Comms in a research report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Quantenna Comms from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, July 11th. Finally, Barclays PLC restated an “overweight” rating on shares of Quantenna Comms in a research report on Friday, July 21st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Quantenna Comms has an average rating of “Buy” and an average price target of $23.83.
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.
Receive News & Ratings for Quantenna Comms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantenna Comms and related companies with MarketBeat.com's FREE daily email newsletter.