Quantenna Communications (QTNA) Cut to “Sell” at Zacks Investment Research

Quantenna Communications (NASDAQ:QTNA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Quantenna Communications, Inc. designs, develops and markets wireless communication solutions. The Company offers wireless solutions for wi-fi routers and consumer electronics, an integrated single chip solution for video stream and multiple input and output chipsets. Quantenna Communications, Inc. is based in Fremont, United States. “

QTNA has been the topic of a number of other research reports. Roth Capital lowered their price target on Quantenna Communications from $27.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. BidaskClub raised Quantenna Communications from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 6th. ValuEngine downgraded Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Quantenna Communications in a research report on Tuesday, December 19th. Finally, Barclays downgraded Quantenna Communications to an “equal weight” rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $20.00.

Quantenna Communications (NASDAQ:QTNA) opened at $14.14 on Thursday. The firm has a market capitalization of $469.14, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 1.34 and a beta of 3.56. The company has a current ratio of 4.06, a quick ratio of 3.51 and a debt-to-equity ratio of 0.01. Quantenna Communications has a 12-month low of $9.60 and a 12-month high of $25.45.

Quantenna Communications (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.11. The firm had revenue of $41.30 million for the quarter, compared to the consensus estimate of $41.00 million. Quantenna Communications had a return on equity of 1.03% and a net margin of 19.51%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. equities analysts forecast that Quantenna Communications will post 0.4 EPS for the current year.

In other news, SVP David William Carroll sold 3,868 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $14.01, for a total value of $54,190.68. Following the transaction, the senior vice president now owns 42,988 shares of the company’s stock, valued at $602,261.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Lionel Bonnot sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $12.44, for a total value of $68,420.00. The disclosure for this sale can be found here. Insiders sold 18,455 shares of company stock worth $240,754 in the last ninety days. 22.62% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of QTNA. Thrivent Financial For Lutherans acquired a new position in shares of Quantenna Communications in the fourth quarter valued at approximately $10,008,000. FMR LLC grew its position in shares of Quantenna Communications by 88.1% in the second quarter. FMR LLC now owns 984,434 shares of the technology company’s stock valued at $18,704,000 after purchasing an additional 461,023 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Quantenna Communications by 90.8% in the second quarter. Vanguard Group Inc. now owns 611,732 shares of the technology company’s stock valued at $11,622,000 after purchasing an additional 291,167 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Quantenna Communications by 90.0% in the third quarter. Wells Fargo & Company MN now owns 514,295 shares of the technology company’s stock valued at $8,646,000 after purchasing an additional 243,655 shares during the last quarter. Finally, State Street Corp grew its position in shares of Quantenna Communications by 248.7% in the second quarter. State Street Corp now owns 317,479 shares of the technology company’s stock valued at $6,033,000 after purchasing an additional 226,425 shares during the last quarter. 38.58% of the stock is currently owned by institutional investors.

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About Quantenna Communications

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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