Short Interest in Parametric Sound Corp. (HEAR) Decreases By 23.3%
Parametric Sound Corp. (NASDAQ:HEAR) was the recipient of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 436,255 shares, a decline of 23.3% from the October 31st total of 568,479 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 476,751 shares, the short-interest ratio is presently 0.9 days.
HEAR has been the subject of several recent research reports. B. Riley restated a “buy” rating and set a $2.00 price target on shares of Parametric Sound Corp. in a research report on Tuesday, September 27th. Zacks Investment Research lowered shares of Parametric Sound Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 19th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Parametric Sound Corp. currently has a consensus rating of “Hold” and an average target price of $1.69.
Shares of Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.45 on Wednesday. The firm’s market cap is $71.41 million. Parametric Sound Corp. has a 12-month low of $0.83 and a 12-month high of $2.59. The company has a 50-day moving average of $1.40 and a 200 day moving average of $1.13.
Parametric Sound Corp. (NASDAQ:HEAR) last posted its quarterly earnings data on Thursday, November 10th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. Parametric Sound Corp. had a negative return on equity of 116.85% and a negative net margin of 82.75%. The company earned $38.40 million during the quarter, compared to analysts’ expectations of $37.37 million. Equities analysts predict that Parametric Sound Corp. will post ($0.45) EPS for the current year.
In other news, insider Frederick J. Romano sold 144,000 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $1.33, for a total transaction of $191,520.00. Following the completion of the transaction, the insider now owns 4,819,000 shares in the company, valued at $6,409,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carmine J. Bonanno sold 217,237 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $1.04, for a total transaction of $225,926.48. Following the transaction, the insider now owns 2,424,284 shares of the company’s stock, valued at approximately $2,521,255.36. The disclosure for this sale can be found here. Company insiders own 74.00% of the company’s stock.
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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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