Resonant Inc. (NASDAQ:RESN) has a beta value of 2.18 and has seen 1,312,413 shares traded in the last trading session. The company, currently valued at $190.42 Million, closed the last trade at $3.16 per share which meant it lost -$0.11 on the day or -3.36% during that session. The RESN stock price is -163.61% off its 52-week high price of $8.33 and 60.76% above the 52-week low of $1.24. If we look at the company’s 10-day average daily trading volume, we find that it stood at 926.33 Million shares traded. The 3-month trading volume is 2.26 Million shares.
The consensus among analysts is that Resonant Inc. (RESN) is a Buy stock at the moment, with a recommendation rating of 1.8. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 4 have rated it as a Hold, with 4 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.1.
Resonant Inc. (NASDAQ:RESN) trade information
Despite being -3.36% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, Apr 27 when the RESN stock price touched $3.80-1 or saw a rise of 16.84%. Year-to-date, Resonant Inc. shares have moved 19.25%, while the 5-day performance has seen it change -14.82%. Over the past 30 days, the shares of Resonant Inc. (NASDAQ:RESN) have changed -27.36%. Short interest in the company has seen 4.56 Million shares shorted with days to cover at 2.02.
Wall Street analysts have a consensus price target for the stock at $6.66, which means that the shares’ value could jump 110.76% from current levels. The projected low price target is $6 while the price target rests at a high of $8.4. In that case, then, we find that the current price level is +165.82% off the targeted high while a plunge would see the stock lose 89.87% from current levels.
Resonant Inc. (RESN) estimates and forecasts
Figures show that Resonant Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained +33.9% over the past 6 months, with this year growth rate of 36.96%, compared to 26.6% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 33.3% and 10% for the next quarter. Revenue growth from the last financial year stood is estimated to be +159.5%.
5 analysts offering their estimates for the company have set an average revenue estimate of $600Million for the current quarter. 5 have an estimated revenue figure of $1.4 Million for the next quarter concluding in June 01, 2021. Year-ago sales stood $600Million and $604Million respectively for this quarter and the next, and analysts expect sales will grow by 0% for the current quarter and 131.8% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +16.4% over the past 5 years. Earnings growth for 2021 is a modest +45.5%.
Resonant Inc. (NASDAQ:RESN)’s Major holders
Insiders own 11.31% of the company shares, while shares held by institutions stand at 29.75% with a share float percentage of 33.54%. Investors are also buoyed by the number of investors in a company, with Resonant Inc. having a total of 101 institutions that hold shares in the company. The top two institutional holders are AWM Investment Company Inc. with over 4.17 Million shares worth more than $11.05 Million. As of December 30, 2020, AWM Investment Company Inc. held 6.92% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 2.89 Million shares as of December 30, 2020. The firm’s total holdings are worth over $7.66 Million and represent 4.8% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of December 30, 2020, the former fund manager holds about 2.11% shares in the company for having 1272191 shares of worth $3.37 Million while later fund manager owns 1.26 Million shares of worth $5.34 Million as of March 30, 2021, which makes it owner of about 2.09% of company’s outstanding stock.