Trading volume for Resonant Inc. was 97K on Tuesday. Overall, volume was up 136.90% over the stocks normal daily volume.
Investors are a little more bearish on the company as indicated by the increase in short interest. The stock realized a rise in short interest from September 29, 2017 to October 13, 2017 of 5.02%. Short interest grew from 537,225 to 564,206 over that period. Days to cover decreased from 18.0 to 12.0 and the short interest percentage is 0.04% as of October 13.
A few notable investment firms have updated their holdings. As of the end of the quarter Mount Lucas Management Lp had disposed of a total of 4,000 shares trimming its position 16.7%. The value of the total investment in Resonant Inc. went from $129,000 to $89,000 a change of $40,000 since the last quarter. Blackrock Inc. reduced its ownership by shedding 21,741 shares a decrease of 92.3% as of 06/30/2017. Blackrock Inc. now holds 1,812 shares valued at $8,000. The value of the position overall is down by 93.7%.
As of quarter end Magee Thomson Investment Partners LLC had sold 65 shares trimming its holdings by 24.8%. The value in dollars decreased from $1,000 to $1,000 decreasing 0.0% quarter to quarter. As of quarter end Leisure Capital Management had disposed of 1,122 shares trimming its stake by 1.7%. The value of the investment in RESN decreased from $286,000 to $281,000 a change of 1.7% quarter over quarter.
The company is now up by 11.16% since yesterday’s close of $4.68. The stock is trading at $4.68 which is just over the 50 day moving average of $4.55 and which is slightly above the 200 day moving average of $4.56. The 50 day moving average was up $0.13 or +2.75% whereas the 200 day average was up by +2.52%.
In the latest earnings report the EPS was $-1.45 and is expected to be $-1.11 for the current year with 14,698,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $-0.29 and the next full year EPS is anticipated to be $-0.89.
Resonant Inc., launched on January 19, 2012, is a late-stage development company. The Company creates filter designs for radio frequency (RF) front-ends for the mobile device industry. The RF front-end is the circuitry in a mobile device for analog signal processing and is located between the device’s antenna and its digital baseband. The Company uses a technology called Infinite Synthesized Networks (ISN) to configure and connect resonators, the building blocks of RF filters. Filters are components of the RF front-end used to select desired radio frequency signals and reject unwanted signals. The Company uses ISN to develop new classes of filter designs. The Company is also developing a series of single-band surface acoustic wave (SAW) filter designs for frequency bands..