Sito Mobile (NASDAQ:SITO) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Sito Mobile (NASDAQ:SITO) from a hold rating to a sell rating in a research note published on Tuesday morning, 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. “

A number of other analysts also recently issued reports on SITO. Lake Street Capital reduced their price objective on CUI Global from $6.00 to $2.30 and set a buy rating on the stock in a research note on Thursday, May 16th. Craig Hallum set a $3.00 target price on Sito Mobile and gave the stock a buy rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Sito Mobile currently has an average rating of Hold and an average target price of $6.00.



NASDAQ:SITO opened at $0.80 on Tuesday. Sito Mobile has a 1 year low of $0.65 and a 1 year high of $2.46. The business has a 50 day moving average price of $0.83. The company has a market cap of $20.13 million, a P/E ratio of -1.18 and a beta of 0.98.

Sito Mobile (NASDAQ:SITO) last released its quarterly earnings data on Wednesday, May 15th. The Wireless communications provider reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter. As a group, equities analysts forecast that Sito Mobile will post -0.27 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Sito Mobile stock. Jane Street Group LLC lifted its stake in Sito Mobile Ltd (NASDAQ:SITO) by 265.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,673 shares of the Wireless communications provider’s stock after purchasing an additional 53,488 shares during the quarter. Jane Street Group LLC owned about 0.29% of Sito Mobile worth $66,000 at the end of the most recent reporting period. Institutional investors own 12.05% of the company’s stock.

About Sito Mobile

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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