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Parametric Sound Corp (NASDAQ:HEAR) major shareholder Carmine J. Bonanno unloaded 5,805 shares of the stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $6.98, for a total value of $40,518.90. Following the completion of the transaction, the insider now directly owns 5,818,993 shares in the company, valued at approximately $40,616,571. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Parametric Sound Corp currently has an average rating of “Buy” and an average target price of $18.60.

Parametric Sound Corp (NASDAQ:HEAR) traded down 0.14% on Friday, hitting $6.99. The stock had a trading volume of 75,954 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 $8.16 and a 200-day moving average of $10.94. The company’s market cap is $293.2 million.

Parametric Sound Corp (NASDAQ:HEAR) last posted its quarterly earnings results 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.

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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