Sito Mobile Ltd (NASDAQ:SITO) has earned an average recommendation of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $9.40.
Several research firms have commented on SITO. Zacks Investment Research downgraded Sito Mobile from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. Lake Street Capital reduced their price objective on Sito Mobile from $4.00 to $9.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, ValuEngine raised Sito Mobile from a “sell” rating to a “hold” rating in a research note on Saturday.
A number of institutional investors and hedge funds have recently bought and sold shares of SITO. Laurel Wealth Advisors Inc. acquired a new position in Sito Mobile during the 2nd quarter worth approximately $1,830,000. Millennium Management LLC acquired a new position in Sito Mobile during the 4th quarter worth approximately $818,000. Cannell Peter B & Co. Inc. increased its position in Sito Mobile by 10.2% during the 1st quarter. Cannell Peter B & Co. Inc. now owns 972,995 shares of the Wireless communications provider’s stock worth $3,911,000 after purchasing an additional 90,000 shares during the period. GSA Capital Partners LLP acquired a new position in Sito Mobile during the 1st quarter worth approximately $331,000. Finally, Wedbush Securities Inc. acquired a new position in Sito Mobile during the 1st quarter worth approximately $141,000. 14.76% of the stock is owned by hedge funds and other institutional investors.
SITO traded down $0.48 on Tuesday, hitting $1.51. 783,600 shares of the company traded hands, compared to its average volume of 212,928. The company has a market cap of $49.74 million, a PE ratio of -3.02 and a beta of -1.14. Sito Mobile has a 12-month low of $1.37 and a 12-month high of $8.60.
Sito Mobile (NASDAQ:SITO) last posted its quarterly earnings data on Monday, August 20th. The Wireless communications provider reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.10). The company had revenue of $8.43 million for the quarter. Sito Mobile had a negative net margin of 38.36% and a negative return on equity of 90.57%.
Sito Mobile Company Profile
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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