Sito Mobile (SITO) Sees Unusually-High Trading Volume

Sito Mobile Ltd (NASDAQ:SITO) shares saw unusually-strong trading volume on Thursday . Approximately 173,463 shares changed hands during mid-day trading, a decline of 7% from the previous session’s volume of 185,793 shares.The stock last traded at $5.00 and had previously closed at $5.33.

Several analysts have commented on SITO shares. Maxim Group reissued a “buy” rating and issued a $10.00 price objective on shares of Sito Mobile in a report on Monday, January 29th. Ladenburg Thalmann Financial Services raised Sito Mobile from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday, December 14th. raised their price objective on Sito Mobile from $8.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Craig Hallum raised Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, October 30th. Finally, Lake Street Capital started coverage on Sito Mobile in a report on Wednesday, October 25th. They issued a “buy” rating and a $10.00 price objective on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.00.

The stock has a market capitalization of $113.88, a P/E ratio of -10.45 and a beta of -1.60.

Sito Mobile (NASDAQ:SITO) last issued its quarterly earnings results on Tuesday, November 14th. The Wireless communications provider reported ($0.12) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.06). The firm had revenue of $11.10 million during the quarter, compared to analyst estimates of $11.34 million. Sito Mobile had a negative return on equity of 47.82% and a negative net margin of 29.34%. The firm’s revenue was up 29.7% compared to the same quarter last year. equities analysts anticipate that Sito Mobile Ltd will post -0.44 earnings per share for the current fiscal year.

In other news, CEO Thomas Pallack purchased 5,625 shares of the stock in a transaction dated Friday, December 29th. The shares were purchased at an average cost of $6.60 per share, with a total value of $37,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Asset Management Inc. boosted its stake in Sito Mobile by 270.4% during the second quarter. National Asset Management Inc. now owns 500,000 shares of the Wireless communications provider’s stock worth $1,855,000 after buying an additional 365,000 shares during the last quarter. Cannell Peter B & Co. Inc. boosted its stake in Sito Mobile by 10.7% during the third quarter. Cannell Peter B & Co. Inc. now owns 882,995 shares of the Wireless communications provider’s stock worth $6,305,000 after buying an additional 85,300 shares during the last quarter. Private Advisor Group LLC acquired a new position in Sito Mobile during the third quarter worth $204,000. Finally, Wells Fargo & Company MN boosted its stake in Sito Mobile by 570.3% during the fourth quarter. Wells Fargo & Company MN now owns 17,628 shares of the Wireless communications provider’s stock worth $119,000 after buying an additional 14,998 shares during the last quarter. 12.08% of the stock is currently owned by institutional investors.

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Sito Mobile Company Profile

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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