Resonant (RESN) Receives a Buy from Needham

In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Resonant (RESNResearch Report), with a price target of $4.50. The company’s shares closed last Monday at $3.03.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 13.7% and a 58.6% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.

Resonant has an analyst consensus of Moderate Buy, with a price target consensus of $4.25.

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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 $7.5 million. In comparison, last year the company had a GAAP net loss of $5.95 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, 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.