Shares of SITO Mobile, Ltd. (NASDAQ:SITO) traded up 0.5% during trading on Thursday . The stock traded as high as $6.74 and last traded at $6.51. 228,760 shares traded hands during trading, a decline of 4% from the average session volume of 238,606 shares. The stock had previously closed at $6.54.

Several analysts recently commented on the stock. Maxim Group reissued a “buy” rating and set a $8.00 price objective (up from $5.00) on shares of SITO Mobile in a research report on Wednesday. ValuEngine raised shares of SITO Mobile from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Zacks Investment Research downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Craig Hallum downgraded shares of SITO Mobile from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $7.80 price objective on shares of SITO Mobile in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. SITO Mobile has a consensus rating of “Hold” and a consensus target price of $5.95.

The stock’s 50 day moving average price is $4.33 and its 200 day moving average price is $3.70. The company’s market cap is $156.41 million.

SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.04). SITO Mobile had a negative net margin of 20.97% and a negative return on equity of 24.74%. The company had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.75 million. On average, analysts forecast that SITO Mobile, Ltd. will post ($0.37) earnings per share for the current year.

In related news, Director Chester Petrow acquired 68,800 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were purchased at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the acquisition, the director now directly owns 286,968 shares in the company, valued at approximately $1,142,132.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 6.50% of the company’s stock.

A hedge fund recently raised its stake in SITO Mobile stock. Regentatlantic Capital LLC boosted its position in SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,079 shares of the Wireless communications provider’s stock after buying an additional 7,673 shares during the period. Regentatlantic Capital LLC owned approximately 0.43% of SITO Mobile worth $327,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 13.83% of the company’s stock.

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About SITO Mobile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

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