Parametric Sound Corp major shareholder Frederick J. Romano Sells 2,905 Shares (HEAR)
Parametric Sound Corp (NASDAQ:HEAR) major shareholder Frederick J. Romano sold 2,905 shares of the company’s stock on the open market in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $6.74, for a total value of $19,579.70. Following the completion of the sale, the insider now directly owns 5,824,798 shares in the company, valued at approximately $39,259,139. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Parametric Sound Corp (NASDAQ:HEAR) traded down 3.32% during mid-day trading on Friday, hitting $6.70. The stock had a trading volume of 172,085 shares. Parametric Sound Corp has a 52-week low of $6.54 and a 52-week high of $16.70. The stock has a 50-day moving average of $8.39 and a 200-day moving average of $11.1. The company’s market cap is $281.0 million.
Parametric Sound Corp (NASDAQ:HEAR) last issued its quarterly 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. On average, analysts predict that Parametric Sound Corp will post $0.01 earnings per share for the current fiscal year.
HEAR has been the subject of a number of recent research reports. 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, August 12th. They now have an “outperform” rating on the stock. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently 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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