Analysts Set Parametric Sound Corp. (NASDAQ:HEAR) Target Price at $2.58
Shares of Parametric Sound Corp. (NASDAQ:HEAR) have received an average recommendation of “Buy” from the six ratings firms that are presently covering the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $2.58.
Separately, B. Riley reaffirmed a “buy” rating and set a $2.00 price objective on shares of Parametric Sound Corp. in a report on Wednesday, August 31st.
Shares of Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.24 on Monday. The stock has a 50 day moving average of $1.09 and a 200 day moving average of $1.05. The company’s market cap is $61.04 million. Parametric Sound Corp. has a 52-week low of $0.83 and a 52-week high of $3.72.
Parametric Sound Corp. (NASDAQ:HEAR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. The business earned $29.40 million during the quarter, compared to the consensus estimate of $24.94 million. Parametric Sound Corp. had a negative net margin of 67.31% and a negative return on equity of 65.64%. On average, equities analysts anticipate that Parametric Sound Corp. will post ($0.45) earnings per share for the current fiscal year.
In other news, insider Frederick J. Romano sold 255,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $1.07, for a total value of $272,850.00. Following the completion of the transaction, the insider now owns 5,302,315 shares in the company, valued at approximately $5,673,477.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Carmine J. Bonanno sold 330,839 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $0.93, for a total transaction of $307,680.27. Following the completion of the transaction, the insider now owns 4,341,621 shares of the company’s stock, valued at approximately $4,037,707.53. The disclosure for this sale can be found here. 74.00% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Parametric Sound Corp. stock. Spark Investment Management LLC increased its stake in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned 0.47% of Parametric Sound Corp. worth $226,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 8.05% of the company’s stock.
Parametric Sound Corp. Company Profile
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
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