In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on Resonant (RESN – Research Report), with a price target of $4.00. The company’s shares closed last Monday at $2.43.
According to TipRanks.com, Dede has 0 stars on 0-5 star ranking scale with an average return of -20.8% and a 27.3% success rate. Dede covers the Consumer Goods sector, focusing on stocks such as The Alkaline Water Company, SuperCom, and eMagin.
Currently, the analyst consensus on Resonant is a Moderate Buy with an average price target of $4.25, a 57.4% upside from current levels. In a report issued on October 23, Needham also maintained a Buy rating on the stock with a $4.50 price target.
Based on Resonant’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $7.5 million. In comparison, last year the company had a GAAP net loss of $6.28 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 offers process management and decision support applications for life insurance carriers that substantially improve the discipline and productivity of underwriting and new business operations. Working directly from product, operational, and regulatory guidelines, Resonant’s applications leverage existing systems to provide a unified environment that intelligently manages the overall process down to the individual case. The result is improved productivity, streamlined compliance activities, and accelerated decision making.