Quantenna Comms (QTNA) Updates Q3 Earnings Guidance
Quantenna Comms (NASDAQ:QTNA) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.07-$0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.07. The company issued revenue guidance of $49-$51 million, compared to the consensus revenue estimate of $47.68 million.
Shares of Quantenna Comms (NASDAQ QTNA) traded down 0.41% on Monday, reaching $19.37. The company had a trading volume of 440,194 shares. The company’s market capitalization is $652.73 million. Quantenna Comms has a 52 week low of $13.75 and a 52 week high of $25.45. The company has a 50 day moving average of $19.68 and a 200-day moving average of $20.01.
Quantenna Comms (NASDAQ:QTNA) last posted its quarterly earnings results on Monday, May 8th. The technology company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $37.90 million during the quarter, compared to analyst estimates of $35.44 million. The business’s revenue was up 55.3% compared to the same quarter last year. Analysts predict that Quantenna Comms will post $0.27 earnings per share for the current fiscal year.
QTNA has been the topic of a number of analyst reports. Zacks Investment Research cut Quantenna Comms from a hold rating to a sell rating in a research note on Thursday, April 20th. Needham & Company LLC restated a strong-buy rating and issued a $26.00 price target on shares of Quantenna Comms in a research note on Tuesday, May 9th. Finally, Barclays PLC reiterated an overweight rating on shares of Quantenna Comms in a research report on Friday, July 21st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $24.17.
In other news, SVP Lionel Bonnot sold 9,700 shares of Quantenna Comms stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $20.24, for a total transaction of $196,328.00. Following the sale, the senior vice president now owns 28,600 shares in the company, valued at $578,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Sam Heidari sold 8,400 shares of Quantenna Comms stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $20.19, for a total value of $169,596.00. Following the sale, the chairman now owns 77,100 shares in the company, valued at approximately $1,556,649. The disclosure for this sale can be found here. Insiders have sold 2,549,810 shares of company stock worth $51,134,581 in the last quarter. Insiders own 22.62% of the company’s stock.
About Quantenna Comms
Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.
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