Parametric Sound Corp. (HEAR) Insider Frederick J. Romano Sells 144,000 Shares of Stock
Parametric Sound Corp. (NASDAQ:HEAR) insider Frederick J. Romano sold 144,000 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $1.33, for a total value of $191,520.00. Following the completion of the sale, the insider now directly owns 4,819,000 shares in the company, valued at approximately $6,409,270. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.24 on Thursday. The firm’s market capitalization is $61.04 million. Parametric Sound Corp. has a 52-week low of $0.83 and a 52-week high of $3.72. The company has a 50-day moving average price of $1.09 and a 200 day moving average price of $1.05.
Parametric Sound Corp. (NASDAQ:HEAR) last issued its quarterly earnings results on Tuesday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.01. Parametric Sound Corp. had a negative return on equity of 65.64% and a negative net margin of 67.31%. The firm had revenue of $29.40 million for the quarter, compared to analyst estimates of $24.94 million. Analysts expect that Parametric Sound Corp. will post ($0.45) EPS for the current fiscal year.
A hedge fund recently raised its stake in Parametric Sound Corp. stock. Spark Investment Management LLC boosted its stake in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned about 0.47% of Parametric Sound Corp. worth $226,000 at the end of the most recent reporting period. 8.05% of the stock is currently owned by hedge funds and other institutional investors.
Separately, B. Riley reissued a “buy” rating and issued a $2.00 price target on shares of Parametric Sound Corp. in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $2.36.
About Parametric Sound Corp.
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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