Resonant Target of Unusually Large Options Trading (NASDAQ:RESN)

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Resonant Inc. (NASDAQ:RESN) saw unusually large options trading on Friday. Stock traders acquired 8,555 call options on the stock. This represents an increase of 1,401% compared to the average volume of 570 call options.

NASDAQ RESN traded up $0.92 during trading hours on Friday, hitting $4.83. The company had a trading volume of 381,307 shares, compared to its average volume of 4,498,825. The business has a 50 day moving average of $2.40 and a 200-day moving average of $2.44. Resonant has a 1-year low of $0.95 and a 1-year high of $4.15. The company has a market cap of $261.67 million, a PE ratio of -5.18 and a beta of 2.88.

Resonant (NASDAQ:RESN) last announced its quarterly earnings results on Friday, November 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. Resonant had a negative net margin of 1,809.91% and a negative return on equity of 154.07%. The company had revenue of $1.41 million for the quarter, compared to analyst estimates of $1.40 million. On average, sell-side analysts predict that Resonant will post -0.56 earnings per share for the current year.

A number of brokerages have issued reports on RESN. Stifel Nicolaus upped their price objective on Resonant from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Zacks Investment Research lowered Resonant from a “hold” rating to a “sell” rating in a research report on Tuesday. Needham & Company LLC boosted their price target on Resonant from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Thursday, October 8th. Finally, ValuEngine raised Resonant from a “hold” rating to a “buy” rating in a report on Tuesday, December 15th.

In other Resonant news, CTO Neal Fenzi sold 12,945 shares of the business’s stock in a transaction that occurred on Wednesday, December 2nd. The stock was sold at an average price of $2.17, for a total value of $28,090.65. Following the transaction, the chief technology officer now directly owns 527,811 shares of the company’s stock, valued at $1,145,349.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Martin S. Mcdermut sold 22,022 shares of the business’s stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $2.17, for a total value of $47,787.74. Following the completion of the transaction, the chief financial officer now directly owns 169,896 shares in the company, valued at $368,674.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 175,888 shares of company stock worth $392,209. Company insiders own 7.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Resonant by 3.9% in the 3rd quarter. State Street Corp now owns 746,748 shares of the semiconductor company’s stock valued at $1,777,000 after purchasing an additional 27,742 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of Resonant in the second quarter worth about $468,000. Bank of New York Mellon Corp increased its stake in shares of Resonant by 613.8% in the second quarter. Bank of New York Mellon Corp now owns 163,358 shares of the semiconductor company’s stock valued at $380,000 after buying an additional 140,473 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in Resonant during the 2nd quarter valued at approximately $307,000. Finally, Jane Street Group LLC acquired a new stake in shares of Resonant during the 2nd quarter worth approximately $196,000. 35.80% of the stock is owned by institutional investors.

Resonant Company Profile

Resonant Inc, a late-stage development company, designs and develops filters for radio frequency (RF) and front-ends used in the mobile device, automotive, medical, Internet-of-things, and related industries in the United States and internationally. It uses Infinite Synthesized Networks technology, a software platform to configure and connect resonators that are building blocks of RF filters.

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