Turtle Beach Corporation (NASDAQ:HEAR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Wednesday.

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. “

Several other research analysts also recently commented on the stock. ValuEngine downgraded shares of Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. B. Riley reaffirmed a “neutral” rating and issued a $1.30 price objective on shares of Turtle Beach Corporation in a report on Sunday, July 23rd.

Turtle Beach Corporation (NASDAQ:HEAR) remained flat at $0.80 during midday trading on Wednesday. 75,264 shares of the company traded hands. Turtle Beach Corporation has a one year low of $0.56 and a one year high of $2.00. The stock’s market capitalization is $39.51 million. The company has a 50-day moving average price of $0.77 and a 200-day moving average price of $0.78.

Turtle Beach Corporation (NASDAQ:HEAR) last released its quarterly earnings data on Thursday, August 10th. The communications equipment provider reported ($0.14) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The business had revenue of $19.11 million during the quarter, compared to the consensus estimate of $17.54 million. On average, analysts forecast that Turtle Beach Corporation will post ($0.07) earnings per share for the current year.

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In other Turtle Beach Corporation news, insider Frederick J. Romano sold 95,555 shares of the stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $0.80, for a total value of $76,444.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederick J. Romano sold 56,792 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $0.80, for a total transaction of $45,433.60. Following the completion of the sale, the insider now owns 4,702,725 shares in the company, valued at $3,762,180. The disclosure for this sale can be found here. Insiders sold a total of 178,666 shares of company stock worth $142,933 over the last quarter. Corporate insiders own 59.60% of the company’s stock.

An institutional investor recently bought a new position in Turtle Beach Corporation stock. Coldstream Capital Management Inc. bought a new position in Turtle Beach Corporation (NASDAQ:HEAR) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,729,044 shares of the communications equipment provider’s stock, valued at approximately $3,310,000. Coldstream Capital Management Inc. owned approximately 9.58% of Turtle Beach Corporation at the end of the most recent reporting period. 16.06% of the stock is 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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