Turtle Beach Corporation [HEAR] Stock trading around $7.51 per share: What’s Next?

Turtle Beach Corporation [NASDAQ: HEAR] loss -8.97% or -0.74 points to close at $7.51 with a heavy trading volume of 443867 shares. The company report on August 30, 2022 that ROCCAT Reveals the First Mini PC Gaming Keyboard in Its Award-Winning Vulcan Series With the Vulcan II Mini.

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ROCCAT’s Vulcan II Mini Keyboard Debuts World’s First Dual LED Smart Keys and TITAN II Optical Switches, While Delivering Performance, Functionality, Durability, and Stunning Design in Mini Form Factor.

ROCCAT, Turtle Beach’s (Nasdaq: HEAR) award-winning PC gaming peripherals brand, today revealed the all-new Vulcan II Mini Optical-Mechanical PC Gaming Keyboard. The latest addition to ROCCAT’s highly lauded range of Vulcan keyboards, the Vulcan II Mini furthers the brand’s keyboard evolution with groundbreaking features, including the world’s first Dual LED Smart Keys, and improved TITAN II Optical Switches. At 65% the size of a standard keyboard, the Vulcan II Mini still retains the arrow keys and provides ample room for broad, sweeping mouse movements needed to win fast-paced games, making it an ideal addition to any PC gamer’s arsenal.

It opened the trading session at $8.40, the shares rose to $8.48 and dropped to $7.491, the range by which the price of stock traded the whole day. The daily chart for HEAR points out that the company has recorded -59.60% loss over the past six months. However, it is still 7.51% higher than its most recent low trading price.

If we look at the average trading volume of 389.22K shares, HEAR reached to a volume of 443867 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $16.83 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.

Oppenheimer have made an estimate for Turtle Beach Corporation shares, keeping their opinion on the stock as Perform, with their previous recommendation back on August 09, 2022. While these analysts kept the previous recommendation, DA Davidson dropped their target price from $25 to $14. The new note on the price target was released on August 09, 2022, representing the official price target for Turtle Beach Corporation stock. Previously, the target price had yet another raise to $27, while Wedbush analysts kept a Outperform rating on HEAR stock. On March 01, 2022, analysts decreased their price target for HEAR shares from 27 to 24.

The Average True Range (ATR) for Turtle Beach Corporation is set at 0.67, with the Price to Sales ratio for HEAR stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 1.04, with the Price to Cash per share for the same quarter was set at 0.63.

Trading performance analysis for HEAR stock

Turtle Beach Corporation [HEAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.44. With this latest performance, HEAR shares dropped by -45.58% in over the last four-week period, additionally sinking by -59.60% over the last 6 months – not to mention a drop of -73.89% 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 23.61, with the RSI for the last a single of trading hit 17.70, and the three-weeks RSI is set at 27.75 for Turtle Beach Corporation [HEAR]. The present Moving Average for the last 50 days of trading for this stock 11.83, while it was recorded at 8.85 for the last single week of trading, and 18.27 for the last 200 days.

Turtle Beach Corporation [HEAR]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Turtle Beach Corporation [HEAR] shares currently have an operating margin of +5.60 and a Gross Margin at +34.70. Turtle Beach Corporation’s Net Margin is presently recorded at +4.84.

Return on Equity for this stock inclined to 13.75, with Return on Assets sitting at 8.17.

Turtle Beach Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 2.30.

Turtle Beach Corporation [HEAR]: An earnings per share (EPS) analysis

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%.

An analysis of insider ownership at Turtle Beach Corporation [HEAR]

There are presently around $101 million, or 84.20% of HEAR stock, in the hands of institutional investors. The top three institutional holders of HEAR stocks are: BLACKROCK INC. with ownership of 1,017,514, which is approximately 0.405% of the company’s market cap and around 2.40% of the total institutional ownership; HAWKEYE CAPITAL MANAGEMENT, LLC, holding 824,576 shares of the stock with an approximate value of $6.19 million in HEAR stocks shares; and VANGUARD GROUP INC, currently with $5.57 million in HEAR stock with ownership of nearly -7.863% of the company’s market capitalization.

Positions in Turtle Beach Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 74 institutional holders increased their position in Turtle Beach Corporation [NASDAQ:HEAR] by around 3,165,077 shares. Additionally, 74 investors decreased positions by around 2,357,316 shares, while 25 investors held positions by with 7,953,930 shares. The mentioned changes placed institutional holdings at 13,476,323 shares, according to the latest SEC report filing. HEAR stock had 26 new institutional investments in for a total of 894,899 shares, while 28 institutional investors sold positions of 962,988 shares during the same period.


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