Sito Mobile (SITO) Reaches New 12-Month Low After Earnings Miss

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Sito Mobile Ltd (NASDAQ:SITO) reached a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $1.53 and last traded at $1.66, with a volume of 12800 shares. The stock had previously closed at $1.68.

The Wireless communications provider reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.10). The business had revenue of $8.43 million during the quarter. Sito Mobile had a negative return on equity of 90.57% and a negative net margin of 38.36%.

Several brokerages have commented on SITO. Lake Street Capital dropped their price target on Sito Mobile from $4.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday. ValuEngine raised Sito Mobile from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Zacks Investment Research downgraded Sito Mobile from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $8.58.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. bought a new stake in shares of Sito Mobile during the second quarter valued at approximately $1,830,000. GSA Capital Partners LLP acquired a new stake in Sito Mobile in the 1st quarter valued at $331,000. Cannell Peter B & Co. Inc. boosted its stake in Sito Mobile by 10.2% in the 1st quarter. Cannell Peter B & Co. Inc. now owns 972,995 shares of the Wireless communications provider’s stock valued at $3,911,000 after buying an additional 90,000 shares in the last quarter. Private Advisor Group LLC acquired a new stake in Sito Mobile in the 1st quarter valued at $106,000. Finally, Birchview Capital LP boosted its stake in Sito Mobile by 16.7% in the 1st quarter. Birchview Capital LP now owns 140,000 shares of the Wireless communications provider’s stock valued at $563,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 14.76% of the company’s stock.

The company has a market cap of $49.74 million, a P/E ratio of -3.22 and a beta of -1.14.

Sito Mobile Company Profile (NASDAQ:SITO)

SITO Mobile, Ltd. provides advertisement delivery, measurement and attribution, and consumer insights using its proprietary location-based marketing intelligence platform in the United States and Canada. It offers Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and advertisements across television, desktop, social media, and digital out of home platforms.

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