Insider Buying: Parametric Sound Corp Director Acquires 33,000 Shares of Stock (HEAR)
Parametric Sound Corp (NASDAQ:HEAR) Director William E. Keitel bought 33,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were purchased at an average price of $7.31 per share, with a total value of $241,230.00. Following the transaction, the director now directly owns 3,198 shares of the company’s stock, valued at approximately $23,377. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Parametric Sound Corp (NASDAQ:HEAR) opened at 6.70 on Monday. Parametric Sound Corp has a 1-year low of $6.54 and a 1-year high of $16.70. The stock’s 50-day moving average is $8.39 and its 200-day moving average is $11.1. The company’s market cap is $281.0 million.
Parametric Sound Corp (NASDAQ:HEAR) last released its earnings data on Monday, August 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the 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 given a strong buy rating to the company’s stock. The stock 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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