Sito Mobile Ltd (SITO) Receives Buy Rating from Maxim Group

Maxim Group reissued their buy rating on shares of Sito Mobile Ltd (NASDAQ:SITO) in a report issued on Monday morning, StockTargetPrices.com reports. They currently have a $4.00 target price on the Wireless communications provider’s stock.

Several other equities research analysts have also weighed in on SITO. Zacks Investment Research lowered Sito Mobile from a hold rating to a sell rating in a research report on Saturday, February 11th. Cowen and Company lowered their price objective on Sito Mobile from $4.50 to $4.00 and set an outperform rating for the company in a research note on Wednesday, March 29th. Ladenburg Thalmann Financial Services lifted their price objective on Sito Mobile from $7.20 to $7.80 and gave the company a buy rating in a research note on Thursday, May 4th. Finally, Taglich Brothers cut Sito Mobile from a speculative buy rating to a neutral rating in a research note on Wednesday, April 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Sito Mobile presently has a consensus rating of Buy and a consensus target price of $5.76.

Shares of Sito Mobile (NASDAQ:SITO) traded down 1.37% during trading on Monday, reaching $4.31. The company’s stock had a trading volume of 142,438 shares. Sito Mobile has a 52-week low of $1.71 and a 52-week high of $6.08. The stock’s 50 day moving average price is $2.98 and its 200-day moving average price is $2.94. The stock’s market cap is $89.13 million.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Sito Mobile by 27.0% in the first quarter. Vanguard Group Inc. now owns 631,444 shares of the Wireless communications provider’s stock worth $1,623,000 after buying an additional 134,154 shares during the period. Akanthos Capital Management LLC boosted its stake in Sito Mobile by 171.8% in the third quarter. Akanthos Capital Management LLC now owns 316,397 shares of the Wireless communications provider’s stock worth $1,392,000 after buying an additional 200,000 shares during the period. Formula Growth Ltd. purchased a new stake in Sito Mobile during the third quarter worth approximately $821,000. Perritt Capital Management Inc. boosted its stake in Sito Mobile by 20.0% in the fourth quarter. Perritt Capital Management Inc. now owns 150,000 shares of the Wireless communications provider’s stock worth $554,000 after buying an additional 25,000 shares during the period. Finally, National Asset Management Inc. purchased a new stake in Sito Mobile during the first quarter worth approximately $347,000. Hedge funds and other institutional investors own 24.83% of the company’s stock.

Sito Mobile Company Profile

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.

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