SITO Mobile Ltd. (NASDAQ:SITO) shares were down 3.7% on Wednesday . The stock traded as low as $5.03 and last traded at $5.20, with a volume of 234,199 shares traded. The stock had previously closed at $5.40.

Several research analysts recently weighed in on SITO shares. Zacks Investment Research downgraded SITO Mobile from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Maxim Group started coverage on SITO Mobile in a research note on Monday, June 13th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Craig Hallum started coverage on SITO Mobile in a research note on Wednesday, July 6th. They set a “buy” rating and a $6.50 target price on the stock.

The stock’s market capitalization is $88.45 million. The company has a 50 day moving average price of $4.07 and a 200 day moving average price of $3.15.

SITO Mobile (NASDAQ:SITO) last released its quarterly earnings results on Monday, August 15th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.08. Equities analysts forecast that SITO Mobile Ltd. will post ($0.09) 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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