Baird Financial Group Inc. purchased a new stake in shares of Resonant Inc (NASDAQ:RESN) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 592,444 shares of the semiconductor company’s stock, valued at approximately $3,341,000. Baird Financial Group Inc. owned approximately 2.22% of Resonant at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hood River Capital Management LLC purchased a new position in Resonant during the 2nd quarter valued at approximately $7,257,000. Institute for Wealth Management LLC. grew its holdings in Resonant by 3.7% during the 2nd quarter. Institute for Wealth Management LLC. now owns 484,565 shares of the semiconductor company’s stock valued at $2,733,000 after buying an additional 17,504 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in Resonant during the 2nd quarter valued at approximately $1,008,000. Sigma Planning Corp grew its holdings in Resonant by 16.1% during the 2nd quarter. Sigma Planning Corp now owns 136,200 shares of the semiconductor company’s stock valued at $768,000 after buying an additional 18,900 shares in the last quarter. Finally, MYDA Advisors LLC purchased a new position in shares of Resonant in the 2nd quarter worth approximately $485,000. Institutional investors and hedge funds own 20.47% of the company’s stock.
A number of equities analysts have recently commented on the company. Loop Capital assumed coverage on Resonant in a report on Thursday, June 21st. They issued a “buy” rating and a $11.00 target price for the company. HC Wainwright set a $8.00 target price on Resonant and gave the stock a “buy” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Resonant from a “sell” rating to a “hold” rating in a report on Wednesday, July 11th. Finally, National Securities reiterated a “buy” rating and issued a $8.00 target price on shares of Resonant in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $7.50.
Shares of Resonant stock opened at $4.49 on Friday. The company has a market capitalization of $124.66 million, a PE ratio of -3.56 and a beta of 1.05. Resonant Inc has a one year low of $3.17 and a one year high of $8.55.
Resonant (NASDAQ:RESN) last announced its earnings results on Thursday, August 9th. The semiconductor company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $0.30 million. Resonant had a negative return on equity of 83.23% and a negative net margin of 4,330.47%. research analysts forecast that Resonant Inc will post -0.78 earnings per share for the current year.
In other news, CFO Jeffrey A. Killian sold 5,269 shares of Resonant stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $5.41, for a total value of $28,505.29. Following the completion of the transaction, the chief financial officer now owns 70,310 shares in the company, valued at approximately $380,377.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 17,000 shares of company stock valued at $89,297. Company insiders own 22.30% of the company’s stock.
Resonant Inc, a late-stage development company, engages in the development of filter designs for radio frequency (RF) front-ends used in the mobile device industry in the United States. It uses Infinite Synthesized Networks technology to configure and connect resonators, the building blocks of RF filters.
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