Blurbs

Why Did Needham Downgrade Resonant’s Stock?

Resonant (RESNResearch Report) received a Hold rating from Needham analyst Rajvindra Gill today. The company’s shares closed last Tuesday at $4.39.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 14.5% and a 61.7% success rate. Gill covers the Technology sector, focusing on stocks such as Sequans Communications S A, Smart Global Holdings, and Everspin Technologies.

The word on The Street in general, suggests a Hold analyst consensus rating for Resonant with a $4.50 average price target, implying a 2.5% upside from current levels. In a report released yesterday, Stifel Nicolaus also downgraded the stock to Hold with a $4.50 price target.

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Resonant’s market cap is currently $80.82M and has a P/E ratio of -7.73.

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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. The company was founded by Neal Fenzi and Robert B. Hammond in January 2012 and is headquartered in Goleta, CA.

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