Turtle Beach Corporation (NASDAQ:TBCH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $18.00.

A number of research analysts have recently commented on TBCH shares. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Roth Mkm reduced their price target on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th.

Turtle Beach Stock Performance

NASDAQ TBCH opened at $12.95 on Friday. The stock has a market capitalization of $250.06 million, a PE ratio of 15.06, a P/E/G ratio of 0.69 and a beta of 2.22. The business has a 50 day simple moving average of $12.75 and a two-hundred day simple moving average of $14.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75. Turtle Beach has a 1-year low of $8.78 and a 1-year high of $17.39.

Institutional Trading of Turtle Beach

Several hedge funds have recently made changes to their positions in TBCH. Windward Management LP bought a new position in shares of Turtle Beach in the 4th quarter valued at about $24,073,000. Garnet Equity Capital Holdings Inc. purchased a new stake in Turtle Beach during the second quarter valued at approximately $22,608,000. Goldman Sachs Group Inc. raised its position in Turtle Beach by 328.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after purchasing an additional 457,125 shares during the period. Bank of America Corp DE bought a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $6,930,000. Finally, AWM Investment Company Inc. purchased a new position in shares of Turtle Beach in the 2nd quarter worth approximately $6,256,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Turtle Beach Company Profile

Turtle Beach Corporation (NASDAQ:TBCH) is a global developer, manufacturer and distributor of gaming audio peripherals, specializing in headsets, microphones and audio accessories for PC, console and mobile platforms. The company’s product lineup spans wired and wireless gaming headsets, mixing stations, sound cards and accessories designed to enhance the immersive experience for casual and professional gamers alike.

Founded in 1975 and headquartered in San Diego, California, Turtle Beach has built a longstanding reputation in audio innovation.