In a report released today, Ilya Grozovsky from National Securities Corp maintained a Buy rating on Resonant (RESN), with a price target of $8. The company’s shares closed yesterday at $2.89, close to its 52-week low of $2.45.
According to TipRanks.com, Grozovsky is a 3-star analyst with an average return of 3.5% and a 52.0% success rate. Grozovsky covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Mitek Systems Inc, and Datawatch Corp.
Resonant has an analyst consensus of Strong Buy, with a price target consensus of $6.83, which is a 136.3% upside from current levels. In a report released today, Needham also maintained a Buy rating on the stock with a $4.50 price target.
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Based on Resonant’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5.95 million. In comparison, last year the company had a GAAP net loss of $4.18 million.
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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.
