Turtle Beach (NASDAQ:HEAR) spotted trading -65.42% off 52-week high price. On the other end, the stock has been noted 332.20% away from the low price over the last 52-weeks. The stock changed -4.33% to recent value of $11.93. The stock transacted 458234 shares during most recent day however it has an average volume of 1177.75K shares. The company has 13.96M of outstanding shares and 12.05M shares were floated in the market.
Turtle Beach (NASDAQ:HEAR), the global leader in gaming headsets and audio accessories, reported its board of directors has approved a share repurchase program allowing the company to purchase up to $15 million of its common shares at its discretion from time to time in the open market, or in block purchase transactions over the next two years.
The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. Turtle Beach intends to fund the share repurchases using cash from operations or short-term borrowings and may suspend or discontinue repurchases at any time. Any shares acquired will be available for general corporate purposes. The share repurchase program is scheduled to expire April 9, 2021, but may also be expanded, extended, or terminated based on market conditions, applicable legal requirements and other factors.
Juergen Stark, CEO of Turtle Beach said “We are confident in the strength and future of Turtle Beach”. “This repurchase program, our acquisition of ROCCAT, and the continued expansion of our gaming audio products demonstrate our balanced strategic approach and our commitment to investing in profitable growth. We look forward to delivering value to our shareholders through continued execution of our strategic growth pillars and effective use of our capital.”
Its earnings per share (EPS) expected to touch remained 399.20% for this year while earning per share for the next 5-years is expected to reach at 18.00%. HEAR has a gross margin of 37.80% and an operating margin of 18.80% while its profit margin remained 13.60% for the last 12 months.
According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.87% from the mean of 20 days, -17.37% from mean of 50 days SMA and performed -36.51% from mean of 200 days price. Company’s performance for the week was 0.73%, -19.70% for month and YTD performance remained -12.61%.
Category – Market Movers
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