Turtle Beach Corporation (HEAR) Upgraded to Buy by Zacks Investment Research
Turtle Beach Corporation (NASDAQ:HEAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $0.75 target price on the communications equipment provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.28% from the company’s current price.
According to Zacks, “Turtle Beach Corporation is an audio technology company. It designs audio products for consumer, commercial and healthcare markets. The company markets premium headsets for use with personal computers, mobile devices and video game consoles under the brand Turtle Beach (TurtleBeach.com). Under the brand HyperSound (HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. Turtle Beach Corporation, formerly known as Parametric Sound Corporation, is based in Valhalla, New York. “
Separately, B. Riley reissued a “neutral” rating and issued a $1.30 price objective on shares of Turtle Beach Corporation in a research note on Sunday, July 23rd.
Turtle Beach Corporation (NASDAQ HEAR) traded down 1.2086% during midday trading on Tuesday, hitting $0.6621. 92,687 shares of the stock traded hands. The company’s 50-day moving average is $0.72 and its 200 day moving average is $0.88. The firm’s market cap is $32.70 million. Turtle Beach Corporation has a 12-month low of $0.65 and a 12-month high of $2.00.
Turtle Beach Corporation (NASDAQ:HEAR) last posted its quarterly earnings data on Thursday, August 10th. The communications equipment provider reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. Turtle Beach Corporation had a negative net margin of 32.19% and a negative return on equity of 830.32%. The business had revenue of $19.11 million during the quarter, compared to analyst estimates of $17.54 million. On average, analysts anticipate that Turtle Beach Corporation will post ($0.07) EPS for the current fiscal year.
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An institutional investor recently bought a new position in Turtle Beach Corporation stock. Virtu KCG Holdings LLC bought a new stake in shares of Turtle Beach Corporation (NASDAQ:HEAR) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 152,515 shares of the communications equipment provider’s stock, valued at approximately $107,000. Virtu KCG Holdings LLC owned 0.31% of Turtle Beach Corporation as of its most recent SEC filing. 5.84% of the stock is currently owned by institutional investors.
Turtle Beach Corporation Company Profile
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
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