LRAD (NASDAQ:LRAD) Rating Increased to Hold at Zacks Investment Research
According to Zacks, “LRAD Corporation, formerly known as American Technology Corporation, is a provider of commercial, government, and military directed acoustics products. Its product lines include The Long Range Acoustic Device (LRAD®), NeoPlanar® and SoundSaber and HyperSonic Sound® (HSS®). The LRAD® is a high-intensity directional acoustic array designed for long-range communication and unmistakable warning. NeoPlanar® and SoundSaber products put out an intelligible column of sound and are used in outdoor and in-building mass communication systems. The HSS® technology uses ultrasonic energy to focus one’s sound to one’s intended listener and nowhere else. Its LRAD® directional sound systems are being used in applications including, fixed and mobile military deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, and wildlife preservation and control. The Company is based in San Diego, California. “
Other research analysts also recently issued research reports about the stock. TheStreet downgraded shares of LRAD from a b- rating to a c rating in a research report on Wednesday, September 4th. CIBC started coverage on shares of LRAD in a research report on Tuesday, July 2nd. They set an outperform rating and a $5.00 target price on the stock. Oppenheimer started coverage on shares of LRAD in a research report on Tuesday, July 2nd. They set an outperform rating and a $5.00 target price on the stock. Finally, UBS Group started coverage on shares of LRAD in a research report on Tuesday, July 2nd. They set an outperform rating and a $5.00 target price on the stock. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $5.00.
LRAD (NASDAQ:LRAD) last issued its quarterly earnings results on Monday, August 12th. The scientific and technical instruments company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.01). LRAD had a return on equity of 1.25% and a net margin of 1.29%. The firm had revenue of $8.86 million during the quarter, compared to analyst estimates of $11.10 million. On average, sell-side analysts expect that LRAD will post 0.06 earnings per share for the current year.
In related news, major shareholder Awm Investment Company, Inc. sold 100,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $4.02, for a total transaction of $402,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Scott L. Anchin sold 25,000 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $3.13, for a total transaction of $78,250.00. Following the sale, the director now owns 56,005 shares of the company’s stock, valued at approximately $175,295.65. The disclosure for this sale can be found here. 3.80% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. WealthTrust Axiom LLC increased its stake in LRAD by 53.0% during the 2nd quarter. WealthTrust Axiom LLC now owns 15,300 shares of the scientific and technical instruments company’s stock valued at $50,000 after purchasing an additional 5,300 shares in the last quarter. Pointe Capital Management LLC bought a new stake in LRAD during the 2nd quarter valued at $33,000. Marshall Wace LLP bought a new stake in LRAD during the 1st quarter valued at $35,000. BlackRock Inc. increased its stake in LRAD by 1.2% during the 2nd quarter. BlackRock Inc. now owns 1,250,193 shares of the scientific and technical instruments company’s stock valued at $4,112,000 after purchasing an additional 14,332 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in LRAD by 306.9% during the 2nd quarter. Wells Fargo & Company MN now owns 28,485 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 21,485 shares in the last quarter. Institutional investors and hedge funds own 49.62% of the company’s stock.
LRAD Corporation designs, develops, and commercializes directed sound technologies and products in North and South America, Europe, the Middle East, Africa, and Asia. It develops directed acoustic communication systems that focus sound over short and long distances. The company offers directional and omnidirectional acoustic systems and accessories.
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