Long Position on QTNA @ $18.00 on 2/22/2019 (Momentum)

Quantenna Communications, Inc. (QTNA) 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.

It offers its products for home networking applications, including home gateways, repeaters, and set-top boxes, as well as retail, outdoor, small and medium business, enterprise, and consumer electronics applications.

The company sells its Wi-Fi solutions directly to original equipment manufacturers and original design manufacturers; and third-party distributors. 

Shares have formed a bullish "cup and handle" following the company's latest quarterly report on February 4th. Earnings of $0.19 per share was in line with the Consensus Estimate. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this company would post earnings of $0.15 per share when it actually produced earnings of $0.17, delivering a surprise of 13.33%. 

Higher share prices for this stock are expected. 

Entry Point: $18.00

Stop Loss: $17.10

Trading Range: $12.48 - $19.41

Target Price: $19.80

Updates

3/12/2019 3:19:18 PM

QNTA closed at $20.05

Position closed on 3/12/2019 at price of $20.05 with a 11.39% gain in 18 days.

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