Turtle Beach Corporation (NASDAQ:HEAR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

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. “

A number of other equities research analysts have also weighed in on HEAR. B. Riley reiterated a “neutral” rating and issued a $1.30 price objective on shares of Turtle Beach Corporation in a research report on Tuesday, July 18th. ValuEngine lowered Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

Turtle Beach Corporation (NASDAQ HEAR) remained flat at $0.80 during trading on Wednesday. The company had a trading volume of 75,264 shares. The company’s market capitalization is $39.51 million. Turtle Beach Corporation has a 12-month low of $0.56 and a 12-month high of $2.00. The stock’s 50 day moving average price is $0.77 and its 200 day moving average price is $0.78.

Turtle Beach Corporation (NASDAQ:HEAR) last issued its quarterly earnings data on Thursday, August 10th. The communications equipment provider reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.03. The business had revenue of $19.11 million during the quarter, compared to the consensus estimate of $17.54 million. Analysts forecast that Turtle Beach Corporation will post ($0.07) EPS for the current year.

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In other news, insider Frederick J. Romano sold 56,792 shares of Turtle Beach Corporation stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $0.80, for a total value of $45,433.60. Following the sale, the insider now directly owns 4,702,725 shares in the company, valued at approximately $3,762,180. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Frederick J. Romano sold 95,555 shares of Turtle Beach Corporation stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $0.80, for a total value of $76,444.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 178,666 shares of company stock worth $142,933. Corporate insiders own 59.60% of the company’s stock.

A hedge fund recently bought a new stake in Turtle Beach Corporation stock. Virtu KCG Holdings LLC purchased a new stake in shares of Turtle Beach Corporation (NASDAQ:HEAR) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 152,515 shares of the communications equipment provider’s stock, valued at approximately $107,000. Virtu KCG Holdings LLC owned approximately 0.31% of Turtle Beach Corporation as of its most recent SEC filing. Hedge funds and other institutional investors own 16.06% of the company’s stock.

About Turtle Beach Corporation

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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