SITO Mobile, Ltd. (NASDAQ:SITO) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.

Several other research firms also recently commented on SITO. Zacks Investment Research downgraded SITO Mobile from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Maxim Group set a $4.00 target price on SITO Mobile and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Craig Hallum cut SITO Mobile from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Thursday, May 25th. Finally, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $7.80 target price on shares of SITO Mobile in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $4.95.

SITO Mobile (NASDAQ SITO) traded up 11.01% on Friday, reaching $4.74. The company’s stock had a trading volume of 546,198 shares. SITO Mobile has a one year low of $1.71 and a one year high of $6.48. The stock’s market cap is $103.83 million. The stock has a 50-day moving average of $4.30 and a 200-day moving average of $3.61.

SITO Mobile (NASDAQ:SITO) last posted its quarterly earnings data on Thursday, August 17th. The Wireless communications provider reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). SITO Mobile had a negative return on equity of 24.74% and a negative net margin of 20.97%. The company had revenue of $10.80 million during the quarter, compared to the consensus estimate of $10.75 million. On average, analysts predict that SITO Mobile will post ($0.37) EPS for the current fiscal year.

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In other SITO Mobile news, Director Chester Petrow bought 68,800 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The stock was purchased at an average price of $3.98 per share, for a total transaction of $273,824.00. Following the completion of the transaction, the director now owns 286,968 shares of the company’s stock, valued at approximately $1,142,132.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.50% of the company’s stock.

An institutional investor recently raised its position in SITO Mobile stock. National Asset Management Inc. raised its position in shares of SITO Mobile, Ltd. (NASDAQ:SITO) by 270.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,000 shares of the Wireless communications provider’s stock after buying an additional 365,000 shares during the quarter. National Asset Management Inc. owned about 2.42% of SITO Mobile worth $1,855,000 as of its most recent SEC filing. Institutional investors own 13.83% of the company’s stock.

SITO Mobile Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

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