Quantenna Communications (QTNA) Stock Rating Lowered by BidaskClub

Quantenna Communications (NASDAQ:QTNA) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also recently issued reports on the company. Roth Capital lifted their target price on Quantenna Communications from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. Benchmark lifted their target price on Quantenna Communications from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. Needham & Company LLC lifted their target price on Quantenna Communications from $20.00 to $23.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 5th. Stifel Nicolaus lifted their target price on Quantenna Communications from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, September 4th. Finally, ValuEngine raised Quantenna Communications from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.80.

Shares of Quantenna Communications stock opened at $15.12 on Thursday. Quantenna Communications has a 52 week low of $10.16 and a 52 week high of $19.41. The company has a market capitalization of $569.52 million, a price-to-earnings ratio of -760.00, a PEG ratio of 7.01 and a beta of 1.33.

Quantenna Communications (NASDAQ:QTNA) last announced its earnings results on Monday, October 29th. The technology company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $59.30 million for the quarter, compared to analysts’ expectations of $58.06 million. Quantenna Communications had a return on equity of 3.65% and a net margin of 17.07%. Quantenna Communications’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Equities research analysts expect that Quantenna Communications will post 0.11 EPS for the current fiscal year.

In related news, SVP David William Carroll sold 4,182 shares of Quantenna Communications stock in a transaction on Monday, August 27th. The stock was sold at an average price of $17.00, for a total transaction of $71,094.00. Following the sale, the senior vice president now directly owns 66,646 shares in the company, valued at $1,132,982. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sam Heidari sold 10,000 shares of Quantenna Communications stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $19.00, for a total value of $190,000.00. Following the sale, the chairman now owns 172,367 shares in the company, valued at $3,274,973. The disclosure for this sale can be found here. Insiders have sold 368,078 shares of company stock worth $6,516,532 over the last quarter. 13.49% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of QTNA. Envestnet Asset Management Inc. bought a new stake in Quantenna Communications during the second quarter worth $159,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Quantenna Communications by 48.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock valued at $174,000 after buying an additional 3,681 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Quantenna Communications in the second quarter valued at $183,000. BlueMountain Capital Management LLC bought a new stake in shares of Quantenna Communications in the second quarter valued at $185,000. Finally, Bank of Montreal Can raised its stake in shares of Quantenna Communications by 3,527.2% in the second quarter. Bank of Montreal Can now owns 12,260 shares of the technology company’s stock valued at $190,000 after buying an additional 11,922 shares during the period. Institutional investors and hedge funds own 62.86% of the company’s stock.

Quantenna Communications Company Profile

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.

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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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