SITO Mobile Ltd. (NASDAQ:SITO) shares fell 4.4% during trading on Friday . The company traded as low as $4.11 and last traded at $4.30, with a volume of 58,604 shares trading hands. The stock had previously closed at $4.50.

A number of brokerages have commented on SITO. Zacks Investment Research lowered SITO Mobile from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Maxim Group began coverage on SITO Mobile in a research report on Monday, June 13th. They issued a “buy” rating and a $8.00 price objective on the stock. Finally, Craig Hallum assumed coverage on SITO Mobile in a research report on Wednesday. They issued a “buy” rating and a $6.50 price objective on the stock.

The firm’s 50-day moving average price is $3.34 and its 200-day moving average price is $2.77. The company’s market cap is $74.63 million.

SITO Mobile (NASDAQ:SITO) last released its quarterly earnings results on Monday, May 16th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $6.50 million for the quarter, compared to the consensus estimate of $6.34 million. On average, analysts forecast that SITO Mobile Ltd. will post ($0.14) earnings per share for the current year.

SITO Mobile Ltd., formerly Single Touch Systems Inc, is a provider of mobile location-based advertising platform serving businesses, advertisers and brands. The Company provides solutions through its platform, which allows marketers to create content targeted to audiences, based on location, interests, behaviors and loyalty.

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