SITO Mobile, Ltd. (NASDAQ:SITO) Stock Rating Lowered by ValuEngine

SITO Mobile, Ltd. (NASDAQ:SITO) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday, August 1st.

Other equities analysts have also issued research reports about the stock. Taglich Brothers lowered shares of SITO Mobile from a “speculative buy” rating to a “neutral” rating in a report on Wednesday, April 5th. Maxim Group restated a “buy” rating and issued a $4.00 target price on shares of SITO Mobile in a report on Friday, May 5th. Zacks Investment Research downgraded shares of SITO Mobile from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Ladenburg Thalmann Financial Services lifted their price target on shares of SITO Mobile from $7.20 to $7.80 and gave the company a “buy” rating in a research note on Thursday, May 4th. Finally, Craig Hallum downgraded shares of SITO Mobile from a “buy” rating to a “hold” rating and set a $4.00 price target for the company. in a research note on Thursday, May 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. SITO Mobile has an average rating of “Hold” and a consensus price target of $5.34.

Shares of SITO Mobile (NASDAQ:SITO) traded up 3.61% during mid-day trading on Tuesday, hitting $4.31. 59,564 shares of the company’s stock traded hands. The company’s market cap is $94.41 million. The firm has a 50-day moving average of $4.72 and a 200 day moving average of $3.35. SITO Mobile has a 52 week low of $1.71 and a 52 week high of $6.48.

SITO Mobile (NASDAQ:SITO) last issued its quarterly earnings results on Thursday, August 17th. The Wireless communications provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.04. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $10.75 million. SITO Mobile had a negative return on equity of 24.74% and a negative net margin of 20.97%. Equities research analysts predict that SITO Mobile will post ($0.37) EPS for the current year.

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In related news, Director Itzhak Fisher bought 100,000 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $3.47 per share, for a total transaction of $347,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.50% of the stock is owned by insiders.

An institutional investor recently raised its position in SITO Mobile stock. National Asset Management Inc. increased its position in SITO Mobile, Ltd. (NASDAQ:SITO) by 270.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,000 shares of the Wireless communications provider’s stock after buying an additional 365,000 shares during the period. National Asset Management Inc. owned approximately 2.42% of SITO Mobile worth $1,855,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.39% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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