Sito Mobile (NASDAQ:SITO) Shares Up 16.7%

Sito Mobile Ltd (NASDAQ:SITO)’s stock price shot up 16.7% during trading on Friday . The company traded as high as $0.78 and last traded at $0.77, 159,852 shares traded hands during mid-day trading. An increase of 134% from the average session volume of 68,176 shares. The stock had previously closed at $0.66.

SITO has been the subject of a number of recent analyst reports. Lake Street Capital cut shares of Sito Mobile from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Zacks Investment Research cut shares of Sito Mobile from a “hold” rating to a “sell” rating in a research note on Tuesday, July 23rd. Finally, ValuEngine raised shares of Sito Mobile from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Sito Mobile has a consensus rating of “Hold” and an average price target of $6.00.

The business’s 50 day moving average is $0.73 and its 200 day moving average is $1.37. The stock has a market capitalization of $19.74 million, a PE ratio of -1.13 and a beta of 1.00.

Sito Mobile (NASDAQ:SITO) last released its quarterly earnings results on Wednesday, May 15th. The Wireless communications provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). Sito Mobile had a negative return on equity of 129.76% and a negative net margin of 45.55%. The firm had revenue of $8.43 million for the quarter. On average, equities analysts expect that Sito Mobile Ltd will post -0.27 EPS for the current fiscal year.

A hedge fund recently raised its stake in Sito Mobile stock. Jane Street Group LLC boosted its stake in shares of Sito Mobile Ltd (NASDAQ:SITO) by 265.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,673 shares of the Wireless communications provider’s stock after buying an additional 53,488 shares during the quarter. Jane Street Group LLC owned approximately 0.29% of Sito Mobile worth $66,000 as of its most recent SEC filing. 11.67% of the stock is currently owned by institutional investors and hedge funds.

About Sito Mobile (NASDAQ:SITO)

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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