Long Position on QTNA @ $20.80 on 3/21/2019 (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 "flag" following the company's latest quarterly report. It reported 4th Quarter earnings of $0.09 per share on revenue of $62.6 million. The consensus earnings estimate was $0.09 per share on revenue of $62.1 million. Revenue grew 51.6% on a year-over-year basis.

The company said it expects first quarter earnings of $0.13 to $0.15 per share on revenue of $56.0 million to $59.0 million. The current consensus earnings estimate is $0.15 per share on revenue of $60.3 million for the quarter ending March 31, 2019.

Higher share prices for this stock are expected. 

Entry Point: $20.80

Stop Loss: $19.75

Trading Range: $12.48 to $21.64

Target Price: $22.90

Updates

3/28/2019 11:57:32 AM

QTNA sold at $24.02

Position closed on 3/28/2019 at price of $24.02 with a 15.48% gain in 7 days.

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