Zacks Investment Research upgraded shares of Parametric Sound Corp. (NASDAQ:HEAR) from a hold rating to a buy rating in a report published on Tuesday morning. The firm currently has $1.25 price objective on the stock.
According to Zacks, “Turtle Beach Corporation is an audio technology company. It designs audio products for consumer, commercial and healthcare markets. The company markets premium headsets for use with personal computers, mobile devices and video game consoles under the brand Turtle Beach (TurtleBeach.com). Under the brand HyperSound (HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. Turtle Beach Corporation, formerly known as Parametric Sound Corporation, is based in Valhalla, New York. “
Separately, B. Riley reissued a buy rating and issued a $2.00 price target on shares of Parametric Sound Corp. in a research note on Monday, August 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Parametric Sound Corp. has an average rating of Buy and a consensus price target of $2.36.
Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.22 on Tuesday. Parametric Sound Corp. has a 52-week low of $0.83 and a 52-week high of $3.72. The company’s market capitalization is $60.06 million. The firm has a 50 day moving average of $1.15 and a 200-day moving average of $1.06.
Parametric Sound Corp. (NASDAQ:HEAR) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. Parametric Sound Corp. had a negative net margin of 67.31% and a negative return on equity of 65.64%. The firm had revenue of $29.40 million for the quarter, compared to analysts’ expectations of $24.94 million. Equities analysts expect that Parametric Sound Corp. will post ($0.45) EPS for the current year.
In other Parametric Sound Corp. news, insider Carmine J. Bonanno sold 52,307 shares of Parametric Sound Corp. stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $0.95, for a total transaction of $49,691.65. Following the sale, the insider now owns 4,488,704 shares of the company’s stock, valued at approximately $4,264,268.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carmine J. Bonanno sold 330,839 shares of Parametric Sound Corp. stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $0.93, for a total transaction of $307,680.27. Following the sale, the insider now directly owns 4,341,621 shares in the company, valued at approximately $4,037,707.53. The disclosure for this sale can be found here. Company insiders own 74.00% of the company’s stock.
A hedge fund recently raised its stake in Parametric Sound Corp. stock. Spark Investment Management LLC raised its stake in Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent 13F filing with the 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 about 0.47% of Parametric Sound Corp. worth $226,000 as of its most recent filing with the SEC. 8.05% of the stock is currently owned by institutional investors.
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.
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