SITO Mobile Ltd. (NASDAQ:SITO) dropped 2.8% 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 subject of several research analyst reports. Craig Hallum initiated coverage on shares of SITO Mobile in a research note on Wednesday, July 6th. They issued a “buy” rating and a $6.50 price target for the company. 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 for the company. Finally, Zacks Investment Research downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a research report on Wednesday, May 18th.

The firm’s market capitalization is $89.49 million. The company has a 50 day moving average of $4.38 and a 200-day moving average of $3.34.

SITO Mobile (NASDAQ:SITO) last released its earnings results on Monday, August 15th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.08. On average, analysts anticipate that SITO Mobile Ltd. will post $0.03 EPS 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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