Parametric Sound Corp. (NASDAQ:HEAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $1.25 target price on the stock. Zacks Investment Research’s price target would suggest a potential downside of 1.57% from the stock’s current price.
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 reiterated a “buy” rating and issued a $2.00 price target on shares of Parametric Sound Corp. in a research report on Thursday, September 22nd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Parametric Sound Corp. has a consensus rating of “Buy” and a consensus target price of $2.36.
Shares of Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.27 on Tuesday. The stock has a 50 day moving average price of $1.16 and a 200 day moving average price of $1.06. Parametric Sound Corp. has a 52 week low of $0.83 and a 52 week high of $3.72. The firm’s market cap is $62.52 million.
Parametric Sound Corp. (NASDAQ:HEAR) last announced its quarterly earnings results 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. The company earned $29.40 million during the quarter, compared to analysts’ expectations of $24.94 million. Parametric Sound Corp. had a negative return on equity of 65.64% and a negative net margin of 67.31%. Equities analysts expect that Parametric Sound Corp. will post ($0.45) earnings per share for the current year.
In other Parametric Sound Corp. news, insider Frederick J. Romano sold 144,000 shares of Parametric Sound Corp. stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $1.33, for a total transaction of $191,520.00. Following the completion of the sale, the insider now owns 4,819,000 shares of the company’s stock, valued at $6,409,270. 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 dated Thursday, August 4th. The stock was sold at an average price of $0.93, for a total value of $307,680.27. Following the sale, the insider now directly owns 4,341,621 shares of the company’s stock, valued at approximately $4,037,707.53. The disclosure for this sale can be found here. Corporate 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 boosted its stake in 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 institutional investor 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 reporting period. 8.05% of the stock is currently owned by hedge funds and other 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.