Sito Mobile (NASDAQ:SITO) Rating Lowered to Sell at Zacks Investment Research

Sito Mobile (NASDAQ:SITO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “SITO Mobile Limited is a technology based mobile solutions provider. The Company provides wireless application development, publishing and distribution. It offers mobile location-based advertising and mobile messaging platforms that enable brands, agencies, and retailers to transform digital marketing by delivering targeted mobile advertising campaigns based on geo-location, in-store traffic, and customer response. SITO Mobile Limited, formerly known as Single Touch Systems, Inc., is based in Jersey City, New Jersey. “

Other equities analysts have also issued research reports about the stock. Craig Hallum set a $3.00 target price on shares of Sito Mobile and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Lake Street Capital decreased their target price on shares of CUI Global from $6.00 to $2.30 and set a “buy” rating for the company in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $6.00.

Shares of SITO opened at $0.78 on Tuesday. The firm has a market capitalization of $20.51 million, a PE ratio of -1.15 and a beta of 0.98. The business’s 50-day simple moving average is $0.82. Sito Mobile has a 12-month low of $0.65 and a 12-month high of $2.46.

Sito Mobile (NASDAQ:SITO) last announced its earnings results on Wednesday, May 15th. The Wireless communications provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The business had revenue of $8.43 million for the quarter. Sito Mobile had a negative return on equity of 129.76% and a negative net margin of 45.55%. As a group, sell-side analysts forecast that Sito Mobile will post -0.27 EPS for the current year.

An institutional investor recently raised its position in Sito Mobile stock. Jane Street Group LLC grew its position in Sito Mobile Ltd (NASDAQ:SITO) by 265.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,673 shares of the Wireless communications provider’s stock after acquiring an additional 53,488 shares during the period. Jane Street Group LLC owned about 0.29% of Sito Mobile worth $66,000 at the end of the most recent quarter. 12.05% of the stock is currently owned by institutional investors.

Sito Mobile Company Profile

SITO Mobile, Ltd. provides advertisement delivery, measurement and attribution, and consumer insights using its proprietary location-based marketing intelligence platform in the United States and Canada. It offers Ad Placement, which delivers advertisements on behalf of its customers to audiences of existing and prospective consumers in a privacy compliant manner; and advertisements across television, desktop, social media, and digital out of home platforms.

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