During the last session, Resonant Inc. (NASDAQ:RESN)’s traded shares were 1,003,184, with the beta value of the company hitting 2.29. At the end of the trading day, the stock’s price was $4.08, reflecting an intraday loss of -2.16% or -$0.09. The 52-week high for the RESN share is $8.33, that puts it down -104.17% from that peak though still a striking +69.61% gain since the share price plummeted to a 52-week low of $1.24. The company’s market capitalization is $245.29 Million, and the average intraday trading volume over the past 10 days was 926.33 Million shares, and the average trade volume was 2.26 Million shares over the past three months.
Resonant Inc. (RESN) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.8. RESN has a Sell rating from none of the analyst(s) out of 5 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 5 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.1.
Resonant Inc. (NASDAQ:RESN): Trading Information
Resonant Inc. (RESN) registered a -2.16% downside in the last session and has traded in the green over the past 5 sessions. The stock spiked 9.13% in intraday trading to $4.49- this Monday, Apr 05, hitting a weekly high. The stock’s 5-day price performance is 2.26%, and it has moved by -2.16% in 30 days. Based on these gigs, the overall price performance for the year is 53.96%. The short interest in Resonant Inc. (NASDAQ:RESN) is 5.23 Million shares and it means that shorts have 2.31 day(s) to cover.
The consensus price target of analysts on Wall Street is $7.73, which implies an increase of 89.46% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6 and $12 respectively. As a result, RESN is trading at a discount of 194.12% off the target high and 47.06% off the low.
Resonant Inc. (RESN) projections and forecasts
Statistics show that Resonant Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Resonant Inc. (RESN) shares have gone up +65.18% during the last six months, with a year-to-date growth rate less than the industry average at -36.96% against 26.6%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 33.3% this quarter and then jump 10% in the quarter after that. In the rating firms’ projections, revenue will increase 177.8% compared to the previous financial year.
Revenue for the current quarter is expected to be $600Million as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $1.58 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $600Million and $604Million respectively. In this case, analysts expect current quarter sales to lessen by 0% and then jump by 161.6% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 16.4%. While earnings are projected to return 45.5% in 2021, the next five years will return 0% per annum.
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Resonant Inc. (NASDAQ:RESN)’s Biggest Investors
Resonant Inc. insiders own 11.34% of total outstanding shares while institutional holders control 38.26%, with the float percentage being 43.16%. AWM Investment Company, Inc. is the largest shareholder of the company, while 99 institutions own stock in it. As of Dec 30, 2020, the company held over 4.17 Million shares (or 6.93% of all shares), a total value of $11.05 Million in shares.
The next largest institutional holding, with 2.89 Million shares, is of Blackrock Inc.’s that is approximately 4.81% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $7.66 Million.
Also, the Mutual Funds coming in first place with the largest holdings of Resonant Inc. (RESN) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 1,272,191 shares. This amounts to just over 2.12 percent of the company’s overall shares, with a $3.37 Million market value. The same data shows that the other fund manager holds slightly less at 1.24 Million, or about 2.06% of the stock, which is worth about $6.32 Million.