Turtle Beach Corporation [NASDAQ: HEAR] price plunged by -15.46 percent to reach at -$4.4. The company report on March 5, 2021 that Turtle Beach Reports Record Fourth Quarter And Full Year 2020 Results.
Strong consumer demand and superior execution fuel record revenue and adjusted EBITDA.
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Turtle Beach Corporation (Nasdaq: HEAR), a leading gaming accessory business, reported financial results for the fourth quarter and full year ended December 31, 2020.
A sum of 1939128 shares traded at recent session while its average daily volume was at 653.23K shares. Turtle Beach Corporation shares reached a high of $27.57 and dropped to a low of $22.2501 until finishing in the latest session at $24.06.
The one-year HEAR stock forecast points to a potential upside of 37.78. The average equity rating for HEAR stock is currently 1.50, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Turtle Beach Corporation [HEAR]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HEAR shares is $38.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HEAR stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Maxim Group have made an estimate for Turtle Beach Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 06, 2020. The new note on the price target was released on November 02, 2020, representing the official price target for Turtle Beach Corporation stock. Previously, the target price had yet another raise to $23.50, while Stifel analysts kept a Buy rating on HEAR stock. On August 07, 2020, analysts increased their price target for HEAR shares from 20 to 26.
The Average True Range (ATR) for Turtle Beach Corporation is set at 2.61, with the Price to Sales ratio for HEAR stock in the period of the last 12 months amounting to 1.20. The Price to Book ratio for the last quarter was 3.16, with the Price to Cash per share for the same quarter was set at 2.60. Price to Free Cash Flow for HEAR in the course of the last twelve months was 9.54 with Quick ratio for the last quarter at 1.30.
HEAR Stock Performance Analysis:
Turtle Beach Corporation [HEAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.53. With this latest performance, HEAR shares dropped by -17.49% in over the last four-week period, additionally plugging by 19.23% over the last 6 months – not to mention a rise of 296.38% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HEAR stock in for the last two-week period is set at 32.55, with the RSI for the last a single of trading hit 23.79, and the three-weeks RSI is set at 38.92 for Turtle Beach Corporation [HEAR]. The present Moving Average for the last 50 days of trading for this stock 27.16, while it was recorded at 29.00 for the last single week of trading, and 19.86 for the last 200 days.
Insight into Turtle Beach Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Turtle Beach Corporation [HEAR] shares currently have an operating margin of +5.94 and a Gross Margin at +32.16. Turtle Beach Corporation’s Net Margin is presently recorded at +7.65.
Return on Total Capital for HEAR is now 17.90, given the latest momentum, and Return on Invested Capital for the company is 35.13. Return on Equity for this stock inclined to 35.57, with Return on Assets sitting at 14.17. When it comes to the capital structure of this company, Turtle Beach Corporation [HEAR] has a Total Debt to Total Equity ratio set at 27.66. Additionally, HEAR Total Debt to Total Capital is recorded at 21.66, with Total Debt to Total Assets ending up at 13.35. Long-Term Debt to Equity for the company is recorded at 2.02, with the Long-Term Debt to Total Capital now at 1.58.
Reflecting on the efficiency of the workforce at the company, Turtle Beach Corporation [HEAR] managed to generate an average of $73,241 per employee. Receivables Turnover for the company is 4.82 with a Total Asset Turnover recorded at a value of 1.85.Turtle Beach Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 2.20.
HEAR Stock EPS
With the latest financial reports released by the company, Turtle Beach Corporation posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.72/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 68.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HEAR. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Turtle Beach Corporation go to 16.00%.
Turtle Beach Corporation [HEAR] Insider Position Details
There are presently around $270 million, or 72.10% of HEAR stock, in the hands of institutional investors. The top three institutional holders of HEAR stocks are: AWM INVESTMENT COMPANY, INC. with ownership of 1,095,543, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 985,620 shares of the stock with an approximate value of $23.71 million in HEAR stocks shares; and VANGUARD GROUP INC, currently with $18.23 million in HEAR stock with ownership of nearly 9.199% of the company’s market capitalization.
Positions in Turtle Beach Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 86 institutional holders increased their position in Turtle Beach Corporation [NASDAQ:HEAR] by around 1,887,828 shares. Additionally, 54 investors decreased positions by around 1,114,599 shares, while 15 investors held positions by with 8,230,874 shares. The mentioned changes placed institutional holdings at 11,233,301 shares, according to the latest SEC report filing. HEAR stock had 34 new institutional investments in for a total of 455,841 shares, while 16 institutional investors sold positions of 454,115 shares during the same period.