In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Resonant (RESN), with a price target of $4.50. The company’s shares closed on Friday at $3.19.
Gill observed:
“Congress, we met with Mike Eddy, VP of for Resonant. Resonant, a leader in transforming the way radio frequency front-ends are designed and delivered for wireless devices, announced the performance characteristics of the first 5G RF filters that use its XBAR resonator technology.”
According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.6% and a 58.3% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies Inc, and Smart Global Holdings Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Resonant with a $6.25 average price target.
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Based on Resonant’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.28 million. In comparison, last year the company had a GAAP net loss of $8.31 million.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RESN in relation to earlier this year.
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Resonant, Inc. operates as a development-stage company, which engages in the creation of filter designs for radio frequency front-ends for the mobile device industry. Its products include the Infinite Synthesized Networks. Infinite Synthesized Networks designs complex filter products.
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