SITO Mobile, Ltd. (SITO) Downgraded to “Hold” at Craig Hallum

SITO Mobile, Ltd. (NASDAQ:SITO) was downgraded by investment analysts at Craig Hallum from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, May 25th. They currently have a $4.00 price target on the Wireless communications provider’s stock. Craig Hallum’s price objective points to a potential upside of 15.61% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Ladenburg Thalmann Financial Services lowered their target price on shares of SITO Mobile from $8.00 to $7.20 and set a “buy” rating on the stock in a report on Wednesday, March 29th. Maxim Group restated a “buy” rating and set a $4.00 target price on shares of SITO Mobile in a report on Monday, May 15th. Zacks Investment Research upgraded shares of SITO Mobile from a “sell” rating to a “hold” rating in a report on Friday, February 3rd. Taglich Brothers downgraded shares of SITO Mobile from a “speculative buy” rating to a “neutral” rating in a report on Wednesday, April 5th. Finally, Cowen and Company decreased their price objective on shares of SITO Mobile from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, March 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.34.

Analyst Recommendations for SITO Mobile (NASDAQ:SITO)

SITO Mobile (NASDAQ:SITO) traded down 1.42% during midday trading on Thursday, reaching $3.46. 68,620 shares of the company’s stock were exchanged. The stock’s market cap is $71.56 million. The firm’s 50-day moving average is $3.67 and its 200 day moving average is $2.85. SITO Mobile has a 1-year low of $1.71 and a 1-year high of $6.08.

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In related news, Director Itzhak Fisher bought 100,000 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was purchased at an average price of $3.47 per share, with a total value of $347,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. increased its stake in SITO Mobile by 5.1% in the fourth quarter. Baird Financial Group Inc. now owns 68,300 shares of the Wireless communications provider’s stock worth $252,000 after buying an additional 3,301 shares in the last quarter. Perritt Capital Management Inc. increased its stake in shares of SITO Mobile by 20.0% in the fourth quarter. Perritt Capital Management Inc. now owns 150,000 shares of the Wireless communications provider’s stock valued at $554,000 after buying an additional 25,000 shares during the period. Vanguard Group Inc. increased its stake in shares of SITO Mobile by 27.0% in the first quarter. Vanguard Group Inc. now owns 631,444 shares of the Wireless communications provider’s stock valued at $1,623,000 after buying an additional 134,154 shares during the period. National Asset Management Inc. bought a new stake in shares of SITO Mobile during the first quarter valued at approximately $347,000. Finally, Formula Growth Ltd. bought a new stake in shares of SITO Mobile during the third quarter valued at approximately $821,000. 14.20% of the stock is owned by institutional investors and hedge funds.

About SITO Mobile

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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