Turtle Beach (HEAR) Sees Unusually-High Trading Volume

Shares of Turtle Beach Corp (NASDAQ:HEAR) saw an uptick in trading volume on Friday . 2,965,222 shares changed hands during mid-day trading, an increase of 465% from the previous session’s volume of 525,140 shares.The stock last traded at $0.62 and had previously closed at $0.44.

A number of equities analysts have recently issued reports on HEAR shares. ValuEngine raised Turtle Beach to a “sell” rating in a report on Tuesday, January 2nd. Zacks Investment Research cut Turtle Beach from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 11th.

The company has a quick ratio of 0.42, a current ratio of 1.06 and a debt-to-equity ratio of -0.74. The company has a market capitalization of $23.70, a price-to-earnings ratio of -5.00 and a beta of 1.00.

Turtle Beach (NASDAQ:HEAR) last issued its earnings results on Thursday, November 2nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $35.98 million during the quarter, compared to analyst estimates of $39.85 million. equities analysts predict that Turtle Beach Corp will post -0.06 EPS for the current fiscal year.

In related news, CEO Juergen M. Stark bought 83,333 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $0.54 per share, with a total value of $44,999.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 74.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu KCG Holdings LLC acquired a new position in shares of Turtle Beach in the 2nd quarter worth approximately $107,000. Macquarie Group Ltd. acquired a new position in shares of Turtle Beach in the 3rd quarter worth approximately $116,000. Perkins Capital Management Inc. raised its holdings in shares of Turtle Beach by 19.0% in the 3rd quarter. Perkins Capital Management Inc. now owns 626,359 shares of the communications equipment provider’s stock worth $520,000 after buying an additional 100,059 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Turtle Beach in the 2nd quarter worth approximately $3,310,000. 16.02% of the stock is owned by institutional investors and hedge funds.

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Turtle Beach Company Profile

Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.

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