Turtle Beach Corp [HEAR] Is Currently 26.47 above its 200 Period Moving Avg: What Does This Mean?

Turtle Beach Corp [NASDAQ: HEAR] gained 26.47% or 2.92 points to close at $13.95 with a heavy trading volume of 3593638 shares. The company report on March 13, 2024 at 4:06 PM that Turtle Beach Announces Transformational Acquisition of PDP and Intention to Launch Reverse Dutch Tender Auction.

Highly Accretive Acquisition of Performance Designed Products Expands Product Portfolio, Strengthens Profitability and Meaningfully Enhances Size of Company.

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Establishes a Powerhouse in Hardware Gaming Accessories with Leadership Positions in Console Headsets and Controllers, Amplified by Significant Financial Synergies.

The daily chart for HEAR points out that the company has recorded 39.64% gains over the past six months.

If we look at the average trading volume of 177.10K shares, HEAR reached to a volume of 3593638 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 Corp [HEAR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HEAR shares is $21.25 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 1.40. 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 Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 05, 2023. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on November 28, 2022, representing the official price target for Turtle Beach Corp stock. On August 09, 2022, analysts decreased their price target for HEAR shares from 25 to 14.

The Average True Range (ATR) for Turtle Beach Corp is set at 0.76, with the Price to Sales ratio for HEAR stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 2.87, with the Price to Cash per share for the same quarter was set at 1.08. Price to Free Cash Flow for HEAR in the course of the last twelve months was 9.79 with Quick ratio for the last quarter at 1.43.

Trading performance analysis for HEAR stock

Turtle Beach Corp [HEAR] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.70. With this latest performance, HEAR shares gained by 15.48% in over the last four-week period, additionally plugging by 39.64% over the last 6 months – not to mention a rise of 92.15% 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 71.15, with the RSI for the last a single of trading hit 77.83, and the three-weeks RSI is set at 66.96 for Turtle Beach Corp [HEAR]. The present Moving Average for the last 50 days of trading for this stock 11.12, while it was recorded at 11.60 for the last single week of trading, and 10.59 for the last 200 days.

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

Turtle Beach Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.43 and a Current Ratio set at 2.22.

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

With the latest financial reports released by the company, Turtle Beach Corp posted -0.27/share EPS, while the average EPS was predicted by analysts to be reported at -0.41/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 34.10%. 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 Corp go to 16.00%.

An analysis of Institutional ownership at Turtle Beach Corp [HEAR]

The top three institutional holders of HEAR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HEAR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HEAR stock with ownership which is approximately 5.8325%.