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.
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.
ILLEGAL ACTIVITY NOTICE: “SITO Mobile, Ltd. (SITO) Downgraded to “Hold” at Craig Hallum” was published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this story on another domain, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The legal version of this story can be accessed at https://www.chaffeybreeze.com/2017/06/16/sito-mobile-ltd-sito-cut-to-hold-at-craig-hallum-updated-updated.html.
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.
Receive News & Ratings for SITO Mobile Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SITO Mobile Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.