Parametric Sound Corp Price Target Cut to $13.00 (HEAR)
Investment analysts at Northland Securities lowered their price objective on shares of Parametric Sound Corp (NASDAQ:HEAR) from $15.00 to $13.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. Northland Securities’ price target suggests a potential upside of 59.51% from the company’s current price.
Parametric Sound Corp (NASDAQ:HEAR) opened at 8.29 on Tuesday. 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 $313.7 million.
Parametric Sound Corp (NASDAQ:HEAR) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters 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.
In other Parametric Sound Corp news, major shareholder Carmine J. Bonanno sold 5,805 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $8.00, for a total value of $46,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
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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