On Jan. 05, Carberry Marybeth divested U.S. $16,000 in shares of Resonant Inc.. The EVP of Business Operations sold 4,000 shares at a price per share of $4.00. The transaction decreased this specific insider’s holdings to 72,877 shares worth around $0.28 million at present.
Stifel launched its Resonant Inc. [RESN] rating to the equivalent of a Buy and assigned the price target of $2.20, in a research note dated February 28, 2020. That figure represents around a -77.73% premium from where the company’s shares closed on Thursday. Some new analysts also started their coverage, with Stifel’s analysts assigning the shares to “a Buy” rating in a research note to investors issued in late February. Meanwhile, Craig Hallum had maintained its rating on RESN to the earlier “Buy” rating, in a research note produced for clients May 09, 2019. In addition, there was a new coverage from Loop Capital on June 22, 2018. The research firm rated RESN “a Buy”.
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Is Resonant Inc. [NASDAQ:RESN] a Good Buy Right Now?
It should be noted that RESN technical indicators for short, intermediate as well as long term progress have placed an overall average of 72% as Buy. The average signal changed from 56% Buy in the last week and compares with 56% Sell in the past month. Data from Resonant Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 2.13 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 1.35 million shares while the medium term average advocated for Hold. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 1.23 million shares.
RESN Price Performance
On Wall Street, Resonant Inc. [NASDAQ:RESN] finished Thursday’s session up 5.39% at $3.91. The stock went up to $3.96 at the same session while its lowest single day price was $3.70. In the last five days, it saw a rise of about 44.81%, Resonant Inc. shares gained by almost 47.55% since the beginning of the year. However, the share price has dropped to as low as -5.78% below its one year high. On 01/05/21, the company shares recorded $4.15, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $2.67. The company’s shares have inclined by 58.94% in the past year. The 50-day SMA achieved is $2.42 while the 200-day SMA is $2.36. Volume dropped to 2.43 million from 3.76 million in the previous session.
RESN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 3.75 level, and in case of violation of this particular level, it will cause more drop to 3.60 level. On the upper level, 4.12 is still the key resistance. The stock may increase to the subsequent resistance at 4.01. The Relative Strength Index (RSI) pinned on the 14-day chart is 84.98, implying a overbought technical stance while the MACD stands at 0.95, meaning price will decrease in the next trading period. Percent R indicator moved to 12.09%, implying bullish price movement. Stochastic %K at 81.55% suggest selling the stock.
What is the short interest in Resonant Inc.?
Short interest in the Resonant Inc. stock has surged, increasing by 0.39 million shares to total 7.91 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 8.3 million, data from Yahoo Finance shows. The decrease of -4.93% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 15.67% of the overall float for the stock.
Resonant Inc.’s Biggest Shareholders: Who Owns Resonant Inc. [RESN]?
Filings by AWM Investment Co., Inc. showed that the firm now holds a total of 4,169,213 shares or roughly 7.70% of the outstanding RESN shares. This means their shares have reduced by 0 from the 4,169,213 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Longboard Capital Advisors LLC updated stake is worth $8,381,206. Details in the latest 13F filings reveal that Select Equity Group LP disposed off their -36.88% stake valued at $5,605,163 while BlackRock Fund Advisors cut theirs at $5,486,861. During the last quarter, Select Equity Group LP liquidated -1,475,152 of its shares in Resonant Inc. while BlackRock Fund Advisors sold -85,232 shares. The Park City Capital LLC’s holdings currently number 2,000,000 shares at $7820000.0. According to the firm’s last 13F report, The Vanguard Group, Inc. shares in the company at filing stood at 1,724,792 shares, roughly $3,829,038.
RESN Earnings Forecast For The Current Quarter
Resonant Inc. [RESN] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $600k and an earnings per share of -$0.1 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.42M at an EPS of -$0.09 for Mar 2021. The estimates represent upside of 196.80% and 27.90% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
RESN Earnings Estimates For The Current Year
For the financial year, Resonant Inc. [NASDAQ:RESN] is expected to bring in revenue of $3.16M. The returns are nearly $2.42 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.43, higher than that of FY19 by $0.36. Estimates put this year’s earnings growth at 45.60%, 27.90% for the next. As for sales, forecasts are for an increase of 329.90% in the current fiscal year and a further 196.80% over the following year.
What are analyst thoughts on Resonant Inc.?
Looking forward to the Resonant Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Resonant Inc. stock at $4.00 within the next 12 months, which represents almost 2.25 per cent growth from its previous closing price of $3.91. The highest analysts’ target for Resonant Inc. stock projections is $5.00 and the lowest one is $3.00. Still, 5 analysts sharing their consensus rating for RESN stock in 2021 agree that it is a Buy.