Parametric Sound Corp (HEAR) Releases Quarterly Earnings, Misses Expectations By $0.19 EPS
Parametric Sound Corp (NASDAQ:HEAR) announced its earnings results on Monday. The company reported ($0.23) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.19, American Banking News reports. The company had revenue of $22.30 million for the quarter, compared to the consensus estimate of $28.83 million.
In other Parametric Sound Corp news, major shareholder Carmine J. Bonanno unloaded 5,805 shares of Parametric Sound Corp stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $8.00, for a total value of $46,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
On a related note, analysts at Northland Securities initiated coverage on shares of Parametric Sound Corp in a research note on Thursday, June 26th. They set an “outperform” rating and a $15.00 price target on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $19.00.
Parametric Sound Corp (NASDAQ:HEAR) traded up 1.72% during mid-day trading on Monday, hitting $8.29. The stock had a trading volume of 80,781 shares. Parametric Sound Corp has a 1-year low of $7.58 and a 1-year high of $16.70. The stock’s 50-day moving average is $8.75 and its 200-day moving average is $11.45. The company’s market cap is $313.7 million.
Parametric Sound Corporation (NASDAQ:HEAR) is a technology company focused on delivering audio solutions through its HyperSound (HSS(r)) technology platform, which consists of the practical application of parametric acoustic technology for generating sound along a directional ultrasonic column.
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