Sito Mobile (NASDAQ:SITO) Trading 16.7% Higher

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Shares of Sito Mobile Ltd (NASDAQ:SITO) traded up 16.7% during mid-day trading on Friday . The company traded as high as $0.78 and last traded at $0.77, 159,852 shares changed hands during mid-day trading. An increase of 134% from the average session volume of 68,176 shares. The stock had previously closed at $0.66.

A number of equities research analysts have issued reports on the company. ValuEngine raised Sito Mobile from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Zacks Investment Research lowered Sito Mobile from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. Finally, Lake Street Capital lowered Sito Mobile from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Sito Mobile presently has an average rating of “Hold” and a consensus price target of $6.00.

The business has a 50-day simple moving average of $0.73 and a 200-day simple moving average of $1.37.

Sito Mobile (NASDAQ:SITO) last posted its quarterly earnings results on Wednesday, May 15th. The Wireless communications provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The company had revenue of $8.43 million during the quarter. Sito Mobile had a negative net margin of 45.55% and a negative return on equity of 129.76%. On average, research analysts predict that Sito Mobile Ltd will post -0.27 earnings per share for the current year.

An institutional investor recently raised its position in Sito Mobile stock. Jane Street Group LLC raised its stake in Sito Mobile Ltd (NASDAQ:SITO) by 265.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,673 shares of the Wireless communications provider’s stock after purchasing an additional 53,488 shares during the period. Jane Street Group LLC owned about 0.29% of Sito Mobile worth $66,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 11.67% of the stock is owned by hedge funds and other institutional investors.

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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