ValuEngine upgraded shares of SITO Mobile, Ltd. (NASDAQ:SITO) from a sell rating to a hold rating in a research note released on Friday.
A number of other research firms also recently weighed in on SITO. Zacks Investment Research downgraded SITO Mobile from a hold rating to a sell rating in a research report on Thursday, July 13th. Craig Hallum downgraded SITO Mobile from a buy rating to a hold rating and set a $4.00 price objective for the company. in a research report on Thursday, May 25th. Ladenburg Thalmann Financial Services reiterated a buy rating and set a $7.80 price objective on shares of SITO Mobile in a research report on Wednesday, August 16th. Finally, Maxim Group set a $4.00 price objective on SITO Mobile and gave the company a buy rating in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $4.95.
SITO Mobile (NASDAQ:SITO) opened at 5.02 on Friday. The firm’s 50-day moving average price is $4.30 and its 200 day moving average price is $3.67. SITO Mobile has a 52-week low of $1.71 and a 52-week high of $6.48. The stock’s market cap is $109.97 million.
SITO Mobile (NASDAQ:SITO) last released its earnings results on Thursday, August 17th. The Wireless communications provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.04). The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $10.75 million. SITO Mobile had a negative return on equity of 24.74% and a negative net margin of 20.97%. Equities analysts predict that SITO Mobile will post ($0.37) earnings per share for the current year.
In related news, Director Chester Petrow acquired 68,800 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the transaction, the director now owns 286,968 shares of the company’s stock, valued at $1,142,132.64. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 6.50% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in SITO Mobile stock. Regentatlantic Capital LLC grew its stake in shares of SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 88,079 shares of the Wireless communications provider’s stock after acquiring an additional 7,673 shares during the period. Regentatlantic Capital LLC owned about 0.43% of SITO Mobile worth $327,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.83% of the company’s stock.
SITO Mobile Company Profile
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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