Shares of SITO Mobile Ltd. (NASDAQ:SITO) dropped 2.8% during mid-day trading on Thursday . The stock traded as low as $4.77 and last traded at $4.92, with a volume of 74,064 shares changing hands. The stock had previously closed at $5.06.

SITO has been the topic of several recent research reports. Craig Hallum initiated coverage on shares of SITO Mobile in a research report on Wednesday, July 6th. They set a “buy” rating and a $6.50 target price on the stock. Maxim Group initiated coverage on shares of SITO Mobile in a research report on Monday, June 13th. They set a “buy” rating and a $8.00 target price on the stock. Finally, Zacks Investment Research cut shares of SITO Mobile from a “buy” rating to a “hold” rating in a research report on Friday, May 6th.

The stock’s 50 day moving average is $4.41 and its 200 day moving average is $3.35. The firm’s market cap is $89.49 million.

SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.08. On average, equities analysts anticipate that SITO Mobile Ltd. will post $0.03 earnings per share for the current fiscal 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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