Analysts Set Parametric Sound Corp. (NASDAQ:HEAR) Target Price at $2.58

Parametric Sound Corp. (NASDAQ:HEAR) has been given an average rating of “Buy” by the six ratings firms that are covering the company. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $2.58.

Separately, B. Riley reaffirmed a “buy” rating and set a $2.00 price target on shares of Parametric Sound Corp. in a report on Tuesday.

In related news, insider Carmine J. Bonanno sold 330,839 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $0.93, for a total transaction of $307,680.27. Following the completion of the sale, the insider now owns 4,341,621 shares in the company, valued at $4,037,707.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederick J. Romano sold 144,000 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $1.33, for a total value of $191,520.00. Following the sale, the insider now owns 4,819,000 shares of the company’s stock, valued at approximately $6,409,270. The disclosure for this sale can be found here. 74.00% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Parametric Sound Corp. stock. Spark Investment Management LLC boosted its position in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned approximately 0.47% of Parametric Sound Corp. worth $226,000 as of its most recent SEC filing. Institutional investors own 8.05% of the company’s stock.

Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.24 on Monday. Parametric Sound Corp. has a 1-year low of $0.83 and a 1-year high of $3.72. The company’s 50-day moving average is $1.09 and its 200 day moving average is $1.05. The company’s market cap is $61.04 million.

Parametric Sound Corp. (NASDAQ:HEAR) last released its earnings results on Tuesday, August 9th. The company reported ($0.23) EPS for the quarter, topping 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 the consensus estimate of $24.94 million. On average, equities analysts predict that Parametric Sound Corp. will post ($0.45) EPS for the current fiscal year.

About Parametric Sound Corp.

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.

5 Day Chart for NASDAQ:HEAR

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