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Parametric Sound Corp (NASDAQ:HEAR) major shareholder Carmine J. Bonanno sold 5,805 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $8.20, for a total transaction of $47,601.00. Following the completion of the sale, the insider now directly owns 5,824,798 shares in the company, valued at approximately $47,763,344. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Parametric Sound Corp (NASDAQ:HEAR) traded down 13.51% during mid-day trading on Tuesday, hitting $7.17. 562,861 shares of the company’s stock traded hands. Parametric Sound Corp has a 52 week low of $7.58 and a 52 week high of $16.70. The stock has a 50-day moving average of $8.70 and a 200-day moving average of $11.35. The company’s market cap is $271.3 million.

Parametric Sound Corp (NASDAQ:HEAR) last released its earnings data on Monday, August 11th. The company reported ($0.23) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.19. The company had revenue of $22.30 million for the quarter, compared to the consensus estimate of $28.83 million. Analysts expect that Parametric Sound Corp will post $0.22 EPS for the current fiscal year.

A number of analysts have recently weighed in on HEAR shares. Analysts at Northland Securities cut their price target on shares of Parametric Sound Corp from $15.00 to $13.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $18.60.

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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