Parametric Sound Corp. (HEAR) Stock Rating Reaffirmed by B. Riley
Parametric Sound Corp. (NASDAQ:HEAR)‘s stock had its “buy” rating reissued by analysts at B. Riley in a note issued to investors on Thursday. They currently have a $2.00 price target on the stock. B. Riley’s price target would suggest a potential upside of 66.67% from the stock’s previous close.
Shares of Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.20 on Thursday. Parametric Sound Corp. has a 52-week low of $0.83 and a 52-week high of $3.72. The stock has a 50 day moving average price of $1.04 and a 200 day moving average price of $1.04. The company’s market capitalization is $59.07 million.
Parametric Sound Corp. (NASDAQ:HEAR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. Parametric Sound Corp. had a negative return on equity of 65.64% and a negative net margin of 67.31%. The business had revenue of $29.40 million for the quarter, compared to analysts’ expectations of $24.94 million. On average, analysts predict that Parametric Sound Corp. will post ($0.45) earnings per share for the current fiscal year.
In other Parametric Sound Corp. news, major shareholder Carmine J. Bonanno sold 31,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $1.02, for a total value of $31,824.00. Following the sale, the insider now owns 4,100,059 shares in the company, valued at approximately $4,182,060.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Carmine J. Bonanno sold 24,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $1.04, for a total value of $25,896.00. Following the completion of the sale, the insider now owns 4,100,059 shares in the company, valued at approximately $4,264,061.36. The disclosure for this sale can be found here. Insiders own 74.00% of the company’s stock.
An institutional investor recently raised its position in Parametric Sound Corp. stock. Spark Investment Management LLC boosted its stake in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned about 0.47% of Parametric Sound Corp. worth $226,000 at the end of the most recent quarter. 8.05% of the stock is owned by institutional investors.
Parametric Sound Corp. Company Profile
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.
Receive News & Ratings for Parametric Sound Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parametric Sound Corp. and related companies with MarketBeat.com's FREE daily email newsletter.