Resonant Inc. (RESN) started the trading day on a down note, making it one of the worst performing stocks in the technology sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 22. Shares of RESN have fallen 3.95% about 30 minutes into the session to $5.35 after closing the day prior at $5.57. It’s early, but the stock has traded as high as $5.78 and as low as $5.35 so far. Today’s quick decline has come with about 24,385 shares changing hands, compared to an average 30-day volume of 97,809 for Resonant Inc.. The price is currently below the 30-day volume weighted average price of $5.55 for RESN.
The share depreciation gives the company a market capitalization of $53.42 million based upon 9.59 million shares outstanding. It also means that RESN has a price-to-book ratio of 8.2:1.
In the past 52 weeks, shares of RESN have traded as low as $1.69 and as high as $6.7595. Technical traders will take note that at $5.35, shares of RESN are trading above their 200-day MA at $3.59 and above their 50-day MA at $5.2. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is RESN?
Resonant Inc is a late-stage development company. It creates filter designs for radio frequency, or RF, front-ends for the mobile device industry. The company’s 30 employees are led by CEO Terry Lingren from the corporate headquarters at 110 Castilian Drive in Goleta, CA.
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