Parametric Sound Corp. (HEAR) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Turtle Beach Corporation is an audio technology company. It designs audio products for consumer, commercial and healthcare markets. The company markets premium headsets for use with personal computers, mobile devices and video game consoles under the brand Turtle Beach (TurtleBeach.com). Under the brand HyperSound (HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. Turtle Beach Corporation, formerly known as Parametric Sound Corporation, is based in Valhalla, New York. “
Separately, B. Riley reissued a buy rating and issued a $2.00 target price on shares of Parametric Sound Corp. in a research report on Thursday, September 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Parametric Sound Corp. has a consensus rating of Hold and a consensus target price of $1.73.
Parametric Sound Corp. (NASDAQ:HEAR) traded up 5.96% during midday trading on Wednesday, reaching $1.60. The company had a trading volume of 202,955 shares. The company’s 50-day moving average is $1.35 and its 200 day moving average is $1.11. Parametric Sound Corp. has a 52-week low of $0.83 and a 52-week high of $2.59. The company’s market cap is $78.80 billion.
Parametric Sound Corp. (NASDAQ:HEAR) last announced its quarterly earnings results on Thursday, November 10th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.06. Parametric Sound Corp. had a negative return on equity of 62.79% and a negative net margin of 82.75%. The company earned $38.40 million during the quarter, compared to the consensus estimate of $37.37 million. On average, equities research analysts forecast that Parametric Sound Corp. will post ($0.45) EPS for the current year.
In other news, major shareholder Carmine J. Bonanno sold 24,900 shares of Parametric Sound Corp. stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $1.04, for a total transaction of $25,896.00. Following the completion of the transaction, the insider now directly owns 4,100,059 shares in the company, valued at approximately $4,264,061.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederick J. Romano sold 144,000 shares of Parametric Sound Corp. 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 transaction, the insider now owns 4,819,000 shares of the company’s stock, valued at $6,409,270. The disclosure for this sale can be found here. 74.00% of the stock is owned by company insiders.
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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