SITO Mobile, Ltd. (NASDAQ:SITO) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “SITO Mobile Limited is a technology based mobile solutions provider. The Company provides wireless application development, publishing and distribution. It offers mobile location-based advertising and mobile messaging platforms that enable brands, agencies, and retailers to transform digital marketing by delivering targeted mobile advertising campaigns based on geo-location, in-store traffic, and customer response. SITO Mobile Limited, formerly known as Single Touch Systems, Inc., is based in Jersey City, New Jersey. “

Several other equities analysts have also commented on the stock. ValuEngine upgraded shares of SITO Mobile from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Maxim Group restated a “buy” rating and issued a $8.00 price objective (up from $5.00) on shares of SITO Mobile in a report on Wednesday, September 27th. Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $7.80 price objective on shares of SITO Mobile in a report on Wednesday, August 16th. Finally, Craig Hallum lowered shares of SITO Mobile from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. SITO Mobile currently has an average rating of “Hold” and an average price target of $5.95.

SITO Mobile (NASDAQ SITO) opened at 6.98 on Tuesday. The stock’s 50 day moving average is $5.99 and its 200-day moving average is $4.47. SITO Mobile has a 12 month low of $1.71 and a 12 month high of $7.50. The stock’s market capitalization is $152.90 million.

SITO Mobile (NASDAQ:SITO) last issued 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 analyst estimates of $10.75 million. On average, equities research analysts expect that SITO Mobile will post ($0.37) earnings per share for the current 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 shares were purchased at an average cost of $3.98 per share, with a total value of $273,824.00. Following the purchase, the director now directly owns 286,968 shares in the company, valued at $1,142,132.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.50% of the stock is owned by corporate insiders.

A hedge fund recently raised its stake in SITO Mobile stock. Regentatlantic Capital LLC increased its holdings in shares of SITO Mobile, Ltd. (NASDAQ:SITO) by 9.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,079 shares of the Wireless communications provider’s stock after buying an additional 7,673 shares during the period. Regentatlantic Capital LLC owned about 0.43% of SITO Mobile worth $327,000 at the end of the most recent quarter. 13.83% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

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