Turtle Beach Corporation (NASDAQ:TBCH – Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 2,600 call options on the stock. This represents an increase of 86% compared to the average daily volume of 1,396 call options.
Turtle Beach Stock Up 4.1%
TBCH traded up $0.68 during trading on Wednesday, hitting $17.27. The company had a trading volume of 104,129 shares, compared to its average volume of 340,536. The company has a market cap of $309.91 million, a PE ratio of -344.86 and a beta of 2.36. The business has a 50-day moving average of $14.14 and a 200-day moving average of $12.67. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.93 and a quick ratio of 0.99. Turtle Beach has a 1-year low of $9.84 and a 1-year high of $17.49.
Turtle Beach (NASDAQ:TBCH – Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). The company had revenue of $84.70 million for the quarter. Turtle Beach had a negative net margin of 0.17% and a positive return on equity of 0.58%. As a group, analysts forecast that Turtle Beach will post 0.78 earnings per share for the current year.
Hedge Funds Weigh In On Turtle Beach
Hedge funds have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new position in Turtle Beach during the 2nd quarter worth approximately $141,000. Hennessy Advisors Inc. acquired a new position in shares of Turtle Beach in the 2nd quarter worth approximately $150,000. AXQ Capital LP bought a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $211,000. Pullen Investment Management LLC increased its holdings in shares of Turtle Beach by 20.6% in the 3rd quarter. Pullen Investment Management LLC now owns 193,581 shares of the company’s stock valued at $2,472,000 after acquiring an additional 33,013 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Turtle Beach during the 2nd quarter valued at approximately $596,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on TBCH shares. B. Riley Financial downgraded Turtle Beach from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research report on Friday, November 6th. Zacks Research raised shares of Turtle Beach from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. Wall Street Zen raised shares of Turtle Beach from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Roth Capital reissued a “buy” rating and issued a $18.00 price objective on shares of Turtle Beach in a research report on Thursday, October 15th. Finally, Weiss Ratings raised shares of Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Turtle Beach presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.80.
Read Our Latest Stock Report on Turtle Beach
Turtle Beach Company Profile
Turtle Beach Corporation (NASDAQ: TBCH) develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications. The company’s products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.
Featured Stories
- Five stocks we like better than Turtle Beach
- IonQ Raised the Bar, But 3 Quantum Rivals Face Tough Questions
- On Holding’s Sell-Off Overlooks a Key Part of Its Earnings Story
- Aehr Test Systems Notches Another Post-Earnings Win as Sales Triple on AI Demand
- Alphabet Escalates AI Chip Rivalry With NVIDIA
Receive News & Ratings for Turtle Beach Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turtle Beach and related companies with MarketBeat.com's FREE daily email newsletter.
