SITO Mobile, Ltd. (NASDAQ:SITO) was downgraded by investment analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of SITO Mobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 14th. ValuEngine downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Ladenburg Thalmann Financial Services boosted their price objective on shares of SITO Mobile from $7.20 to $7.80 and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Maxim Group restated a “buy” rating and set a $4.00 price objective on shares of SITO Mobile in a report on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $5.34.

Shares of SITO Mobile (SITO) opened at 4.14 on Friday. The firm’s market cap is $85.62 million. The company has a 50 day moving average price of $4.70 and a 200-day moving average price of $3.33. SITO Mobile has a 12-month low of $1.71 and a 12-month high of $6.48.

SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings data on Monday, August 14th. The Wireless communications provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. SITO Mobile had a negative return on equity of 22.75% and a negative net margin of 20.97%. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $10.75 million. Analysts expect that SITO Mobile will post ($0.11) EPS for the current year.

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In other SITO Mobile news, Director Itzhak Fisher bought 100,000 shares of SITO Mobile stock in a transaction that occurred on Thursday, June 15th. The stock was acquired at an average price of $3.47 per share, for a total transaction of $347,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 6.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in SITO. Perkins Capital Management Inc. bought a new stake in SITO Mobile during the third quarter worth about $198,000. Baird Financial Group Inc. raised its position in SITO Mobile by 5.1% in the fourth quarter. Baird Financial Group Inc. now owns 68,300 shares of the Wireless communications provider’s stock worth $252,000 after buying an additional 3,301 shares in the last quarter. Regentatlantic Capital LLC raised its position in SITO Mobile by 9.5% in the second quarter. Regentatlantic Capital LLC now owns 88,079 shares of the Wireless communications provider’s stock worth $327,000 after buying an additional 7,673 shares in the last quarter. Symmetry Peak Management LLC acquired a new position in SITO Mobile during the third quarter worth approximately $451,000. Finally, National Asset Management Inc. acquired a new position in SITO Mobile during the first quarter worth approximately $347,000. Hedge funds and other institutional investors own 13.39% of the company’s stock.

About SITO Mobile

SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.

Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

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