Shares of Sito Mobile Ltd (NASDAQ:SITO) rose 12.9% during trading on Tuesday . The stock traded as high as $5.35 and last traded at $5.25. Approximately 646,449 shares traded hands during trading, an increase of 178% from the average daily volume of 232,769 shares. The stock had previously closed at $4.65.
SITO has been the topic of several analyst reports. Lake Street Capital initiated coverage on Sito Mobile in a report on Wednesday, October 25th. They set a “buy” rating and a $10.00 target price on the stock. Craig Hallum raised Sito Mobile from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Monday, October 30th. Maxim Group set a $10.00 price target on Sito Mobile and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Cowen reiterated an “outperform” rating on shares of Sito Mobile in a research report on Wednesday, November 15th. Finally, increased their price target on Sito Mobile from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $9.00.
In other Sito Mobile news, CEO Thomas Pallack purchased 31,000 shares of the stock in a transaction on Thursday, December 14th. The shares were bought at an average price of $6.83 per share, for a total transaction of $211,730.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.50% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in Sito Mobile during the fourth quarter worth approximately $113,000. Wells Fargo & Company MN boosted its position in Sito Mobile by 570.3% during the fourth quarter. Wells Fargo & Company MN now owns 17,628 shares of the Wireless communications provider’s stock worth $119,000 after purchasing an additional 14,998 shares in the last quarter. Virtu Financial LLC purchased a new position in Sito Mobile during the fourth quarter worth approximately $120,000. Monashee Investment Management LLC purchased a new position in Sito Mobile during the fourth quarter worth approximately $126,000. Finally, Private Advisor Group LLC purchased a new position in Sito Mobile during the third quarter worth approximately $204,000. Institutional investors own 12.19% of the company’s stock.
WARNING: “Sito Mobile (SITO) Stock Price Up 12.9%” was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.dispatchtribunal.com/2018/02/22/sito-mobile-sito-stock-price-up-12-9.html.
About Sito Mobile
SITO Mobile, Ltd. operates a mobile location-based advertising platform serving businesses, advertisers and brands. The Company’s offerings include SITO Location-Based Advertising and SITO Mobile Messaging. SITO Location-Based Advertising delivers display advertisements and videos on behalf of advertisers, including various features, such as Geo-fencing, Verified walk-in, Behavioral Targeting, and Analytics and Optimization.
Receive News & Ratings for Sito Mobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sito Mobile and related companies with MarketBeat.com's FREE daily email newsletter.