Turtle Beach Corporation (NASDAQ: HEAR) At $16.67 Is Worth A Gamble – Marketing Sentinel
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Turtle Beach Corporation (NASDAQ: HEAR) At $16.67 Is Worth A Gamble

During the last session, Turtle Beach Corporation (NASDAQ:HEAR)’s traded shares were 0.68 million, with the beta value of the company hitting 1.51. At the end of the trading day, the stock’s price was $16.67, reflecting an intraday gain of 10.69% or $1.61. The 52-week high for the HEAR share is $38.70, that puts it down -132.15 from that peak though still a striking 15.72% gain since the share price plummeted to a 52-week low of $14.05. The company’s market capitalization is $244.88M, and the average intraday trading volume over the past 10 days was 0.76 million shares, and the average trade volume was 565.34K shares over the past three months.

Turtle Beach Corporation (HEAR) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. HEAR has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.47.

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Turtle Beach Corporation (NASDAQ:HEAR) trade information

Turtle Beach Corporation (HEAR) registered a 10.69% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 10.69% in intraday trading to $16.67 this Friday, 05/13/22, hitting a weekly high. The stock’s 5-day price performance is 0.30%, and it has moved by -13.40% in 30 days. Based on these gigs, the overall price performance for the year is -40.46%. The short interest in Turtle Beach Corporation (NASDAQ:HEAR) is 2.1 million shares and it means that shorts have 5.54 day(s) to cover.

The consensus price target of analysts on Wall Street is $28.50, which implies an increase of 41.51% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $20.00 and $34.00 respectively. As a result, HEAR is trading at a discount of -103.96% off the target high and -19.98% off the low.

Turtle Beach Corporation (HEAR) estimates and forecasts

Statistics show that Turtle Beach Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Turtle Beach Corporation (HEAR) shares have gone down -41.55% during the last six months, with a year-to-date growth rate less than the industry average at -18.02% against 1.50. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -44.00% this quarter and then drop -84.60% in the quarter after that. In the rating firms’ projections, revenue will increase 4.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $119 million as predicted by 6 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $80.47 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $132.91 million and $93.05 million respectively. In this case, analysts expect current quarter sales to shrink by -10.50% and then drop by -13.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 16.40%. While earnings are projected to return -59.00% in 2022, the next five years will return 16.00% per annum.

HEAR Dividends

Turtle Beach Corporation is due to release its next quarterly earnings between March 02 and March 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Turtle Beach Corporation (NASDAQ:HEAR)’s Major holders

Turtle Beach Corporation insiders own 1.87% of total outstanding shares while institutional holders control 69.32%, with the float percentage being 70.64%. Blackrock Inc. is the largest shareholder of the company, while 213 institutions own stock in it. As of Sep 29, 2021, the company held over 1.0 million shares (or 6.24% of all shares), a total value of $27.85 million in shares.

The next largest institutional holding, with 0.83 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 5.16% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $23.04 million.

Also, the Mutual Funds coming in first place with the largest holdings of Turtle Beach Corporation (HEAR) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Sep 29, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 0.43 million shares. This amounts to just over 2.68 percent of the company’s overall shares, with a $11.98 million market value. The same data shows that the other fund manager holds slightly less at 0.35 million, or about 2.21% of the stock, which is worth about $10.2 million.

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